Gold - Weekly Bullish View
Analysis Points : -
- 76 Weeks of Consolidation
- VCP Formation
- Near Trendline Breakout
- Fibonacci Extension near to its Previous All time high (1st Target)
- Daily chart outperforming Nifty by 3% in previous week this show relative outperformance of instrument vs Nifty.
Note - This view is not for short term trading purpose this is rather positional for 5-6 Months. By looking at global market risks and inflation I prefer to shift some of my allocation to gold as neutral hedge against equity.
- 76 Weeks of Consolidation
- VCP Formation
- Near Trendline Breakout
- Fibonacci Extension near to its Previous All time high (1st Target)
- Daily chart outperforming Nifty by 3% in previous week this show relative outperformance of instrument vs Nifty.
Note - This view is not for short term trading purpose this is rather positional for 5-6 Months. By looking at global market risks and inflation I prefer to shift some of my allocation to gold as neutral hedge against equity.
Trade closed: target reached
Target Done...
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