Rajandran R Follow Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

Gold Inching Higher towards 1295-1300 Resistance Band – Medium Term Outlook

August 10, 2017 22 sec read

Gold Daily Charts

Gold had done a short term trend reversal from the recent swing low of 1251. Trading Sentiment holds positive on both daily and weekly timeframe. Current surge towards 1280 reference brings a possibility of test towards the 1295-1300 band where gold got resisted twice in the same reference.

Gold is in sideways mode in the range of 1200-1300 range since March 2017. Monthly charts are looking compressed at this moment no long term trend is visible at this moment. Breaking and sustaining above 1300 is more critical for gold targeting higher 1335 and 1380. Long bias hold in the medium term.

Gold Weekly Charts