Natural gas Short term view

Euro- technical view

Euro On 4 hours Charts has formed Strong Doji near the Resistance Zone indicating Trend Reversal possible , Could again Fall back to1. 3500 lvls In turn pulling Down , Precious Metals & basemeatls along with it -- Fresh Longs only to be taken in if Euro manges to Cross 1.3800

Attached EURO CHART

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Gold Possible Inverted head & shoulders

Gold possible IHS on daily comex charts -- Neckline placed at 1137 $ , Close and Sustained Trading abv Same can open upside trgt till 1160--1174 in short term , Failure to Cross Same could Lead to Retest on downside again till 1110 $

Gold Short term 1125--1132 Strong Resistance to Cross

Gold Strong Resistance near 1125--1132 Zone in Near Term,

Looking at the Daily Charts of Gold in Medium term It has been moving in a Sideways downward biased Channel , the top end of the Channel is now near the 1123--1125 Zone Which will be A Strong Resistance to Cross ( Marked with PINK Lines on the Chart)

and in the Short term it has been Moving in a triangle (marked with orange Lines) So break above 1126 Zone Would Face Resistance at 1132 Where the upward Rising trend line of triangle is based. Which indicates that Fresh longs Should be taken if the Daily Close Manages to Close above 1132 levels for upside target of 1163--1174 targets , On Downside break of 1102 Will again indicate that the trend is Reversing again to Retest the Downward end of channel with Breakdown from the triangle opening Downside target till 1088--1065 $ -1044$ - 1005 $ , which Would possibly Mean the end of Short Term Zigzag Correction

The Leading indicators on Daily & 4 hours Charts have shown a Cross Over on the Downside from overbought Zones, Indicating some Shorts Are Being Created near Current levels




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