Every market cycle follows a predictable psychological pattern, taking investors on a rollercoaster from the heights of 'Euphoria' all the way down to 'Panic' and 'Depression' before starting over again.
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Gold is taking its timeโฆ but has the bigger move changed? ๐
Last week, we expected gold to remain volatile before resuming its uptrend.
The uptrend is taking longer than anticipated, but our bigger-picture view remains unchanged.
Silver may have another surprise in store. ๐
Our view remains unchanged from last week.
Silver is likely to remain volatile and could potentially touch $68 again.
But the bigger picture remains bearish, with the $61โ$58 range still pending.
Nifty has reached the zone we were waiting for. ๐
Last week, we said Nifty could fall toward 23,500, form a bottom and then see a sharp recovery.
Nifty has now moved slightly below 23,500. This could be an indication that the expected bottom is forming.
๐ Possible fall: 61โ58 โณ Time window: Next 2โ3 weeks Once this downside phase is complete, we could see a strong upsurge in Silver. Stay connected with the channel โ weโll discuss the next phase when the setup develops.
GOLD: 4160 STILL POSSIBLE? ๐ Our previous weeksโ analysis continues to find confirmation, with Gold reaching the minimum zone we had been watching. But the pattern may not be complete yet. Gold is now in a zone where we could see increased volatility.
A small upside move this week could be followed by a sharper downside. ๐ฏ Possible downside: 4160 โณ Watch for lower levels: Next 2โ3 weeks But there could be another twist. After this downside phase, the setup could pave the way for a strong upsurge in Gold.
Will Nifty finally break lower and test these levels? Stay connected for the next price-action update. This content is for educational purposes only and is not a recommendation to buy or sell any security.
A move towards this range could come before Nifty finds stronger support and the price structure starts showing a meaningful change. ๐ Key downside zone: 23,500โ23,000 ๐ฏ Focus: Price action & support levels โ ๏ธ View: Downside remains possible