In short, DMI & MA is throwing a strong upward signal. Moreover, its is increasing. This week, we have chances to see gold prices above the 51860 levels. The day traders can follow the following targets:
51000 - 51360 - 51860+
And short-term investors can hold for 52000 - 53000 - 53560+ levels.
All you need to do is watch out for a dynamic support trendline. It should remain above it. Else, it will start falling. And that downfall for the levels of 50000 - 49600 - 49360.
Significant releases or events that may affect the movement of gold:
Monday, Nov 02, 2020
- 11:00 - Gold Index
Tuesday, Nov 03, 2020
- 05:30 - U.S. Presidential Election
Wednesday, Nov 04, 2020
- 02:00 - U.S. Weekly Crude Stock
- 21:00 - U.S. Crude Oil Inventories
Profit Rs.1,30,100 /mega lot