Range Resistance May Slow Advance Toward HighsTogether, the above indications point to a likely continuation of the bull trend as gold heads towards the record high of $4,550. However, despite the clear signs of strengthening, gold remains within a trading range established by a wide range bearish red candle from December 29 that formed following the high. It represents a range of potential selling pressure, which could impact momentum in the current advance and lead to further corrective behavior for the p ...

Core Viewpoint - The analysis indicates a potential for further price movements in gold, with significant support and resistance levels identified, suggesting a cautious outlook for investors. Group 1: Support and Trend Indicators - The 20-day average is currently at $4,314 and serves as a significant trend indicator, acting as dynamic support since November 10 [1] - Monday's low is marked as a potential support area, with three indicators suggesting it could lead to further strengthening, although there is a risk of a deeper correction [2] - A decisive breakdown below $4,303 could lead to testing support near the 50-day average at $4,172, with a prior weekly low at $4,170 further emphasizing this price area [3] Group 2: Resistance and Price Targets - Resistance for the bull trend was identified near two initial upside targets, with a 127.2% extension of the October correction at $4,516 and a 161.8% projected rising ABCD target at $4,578 [4] Group 3: Outlook and Recovery Potential - A recovery from the 20-day average towards new highs is favored unless there is a sustained decline below Monday's low, with a drop to the 50-day average indicating a weakening of the short-term bull trend [5]

Core Viewpoint - The recent price movements in gold indicate a potential for further upside, with key resistance and support levels identified for future price action [1][4]. Price Movements - An initial short-term upside target at the 127.2% Fibonacci extension of $4,516 was achieved, followed by a bearish intraday reversal and indecisive closing [1]. - The next projected target is at $4,578, with further price zones identified at $4,664 and $4,687, which are based on long-term extended measures [1]. Pullback Dynamics - The first pullback after reaching new record highs is crucial for assessing momentum, with key support at the 10-day moving average currently at $4,360 [2]. - A breakout above the prior trend high of $4,381 is expected to continue the bullish trend, with a shallower pullback indicating stronger demand [2]. Year-End Position - Gold is positioned to finish the year on a bullish note, with buyers in control and dynamic support tested leading to a bullish breakout [3]. Outlook - Gold's recent push to $4,526 met with indecision and mild selling, but a hold above the rising 10-day average and prior high favors continuation towards $4,578–$4,687 [4]. - A deeper weakness below $4,430 could risk a more significant pullback, although the larger bullish trend remains supportive [4].

Nifty Bank index began today’s session higher at 59,402 versus yesterday’s close of 59,210. It moved up a little after opening and is now at 59,460, up 0.4 per cent.The advance/decline ratio stands at 10/2, indicating a bullish bias. IndusInd Bank (up 1.4 per cent) and IDFC First Bank (up 1 per cent) are the top gainers. Bank of Baroda (down 0.25 per cent) and State Bank of India (down 0.15 per cent) are the only losers in Nifty Bank index so far today. Nifty Private Bank is up nearly 0.7 per cent whereas N ...

Core Viewpoint - The gold market remains in a bullish trend as long as it stays above the 20-day average, currently at $4,154, with a key resistance level at last week's high of $4,264 indicating potential for further upside [1][5] Group 1: Bullish Indicators - Sustained trading above the 20-day average suggests continuation of the bullish trend, with strong demand indicated by the 50-day average not being reached during recent pullbacks [1] - The recent correction in gold prices has been contained near the top of two rising trend channels, indicating market strength despite a failed breakout [3] Group 2: Support Levels - If gold prices drop below the 20-day average, the next key support level is the 50-day average at $4,097, which has not been tested since the August breakout [2] - A breach below the 50-day average would signal a bearish trend and risk a deeper correction in the near term [2] Group 3: Price Targets - A breakout above the swing high of $4,264 targets an initial measured move to $4,356, with further upside potential reaching $4,381 and a 127.2% measured move projection at $4,454 [4] - The overall outlook remains bullish as long as the 20-day average holds, with initial defense at the 50-day line and further support from the channel top and centerline [5]

Core Viewpoint - The Retail Sector ETF (XRT) is currently experiencing a bearish phase despite the broader market reaching new highs, indicating caution for investors in the retail sector [1][2][3]. Technical Analysis - XRT broke below the 50-day moving average (DMA) in early October, signaling potential weakness in the retail sector [1]. - As of late November, XRT is approaching the 200-DMA, which is a critical support level [4][6]. - On the weekly chart, XRT remains above the 50-week moving average, suggesting that the correction may be nearing its end [5]. - Momentum indicators show support at the 200-DMA, but a break below this level would warrant increased caution [7]. Long-term Trends - The price of XRT is currently above the 23-month moving average, indicating that the retail sector remains in a bull trend [10]. - Historical analysis shows that if the price remains above both the 23-month and 80-month moving averages, the market is in a strong secular bull cycle [16]. - A failure to hold above the 23-month moving average while still above the 80-month would signal a warning phase, similar to past mid-cycle corrections [16]. Market Sentiment - Buyers are still in control of the broader market, but short-term pressures from sellers or profit-taking are evident [11]. - The current environment is characterized as a "buy-the-dip in a long-term uptrend," provided that the ETF maintains its position above weekly and monthly support levels [12]. - If XRT can reclaim the 50-DMA, it may resume upward momentum [13].

Core Viewpoint - The recent decline in gold and silver prices is attributed to profit-taking after significant gains this year, raising concerns that the rallies may have entered bubble territory [1][10]. Precious Metals Market - Gold fell 2.9% to $4,004.26 per ounce, marking its largest intraday decline in over a dozen years, while silver dropped more than 2% to around $47.6 after a previous 7.1% fall [1][10]. - Analysts suggest that the selloff was triggered by substantial positioning in gold and silver futures, which had built up prior to the declines [6][10]. - Despite the pullback, long-term drivers such as central bank buying and expectations of monetary easing are expected to support prices [6][10]. Stock Market Dynamics - Global macro hedge funds and long-only strategies maintain the highest stock exposure in over a year, despite recent de-risking amid trade and credit concerns [5][10]. - The US government shutdown has created an economic data vacuum, yet investors view equity drawdowns as opportunities to add risk to their portfolios [5][10]. - The S&P 500 closed little changed, with US share futures edging lower, indicating a mixed sentiment in the stock market [2][10]. Broader Economic Context - A confluence of factors, including positive trade talks between China and the US, a stronger dollar, and the end of a seasonal buying spree in India, contributed to the decline in precious metals [8][10]. - The 30-year Treasury yield reached its lowest since early April, reflecting the impact of the ongoing US government shutdown [6][10]. - Oil prices rose following comments from President Trump regarding India's oil purchases from Russia and a decline in US inventories [7][10].

Market Trend Analysis - ETH is in a strong bull trend, indicating positive market momentum [1] - Market makers manipulate the orderbook for over leveraged liquidations, suggesting potential volatility [1] - The current situation is considered a usual bull market correction [1] Whale Accumulation - BlackRock's ETHA has purchased $14 billion worth of ETH, signaling aggressive accumulation by whales [1] Price Levels - The support level for ETH is $4240 [1] - The resistance level for ETH is $5000 [1] - A breakthrough of the $5000 level could lead to a surge towards $6000+ in a short period [1] - The possible range for ETH this month is between $3800 and $6000 [2]