On 15 Feb 2021, I have written an article on Gold. First, click below & read again: [When Will MCX Gold explode?] URL:
I have written in that article, "If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement. Targets: 46860 – 46600 – 46000 – 45660 – 45200".
Gold has touched all targets.
NEW UPDATE: ============== Keep eyes on the retracement value of 0.618. It will act as a resistance.
Targets: 44260 - 43600 - 43000 - 42260
Alternative scenario: If gold remains above 45200, it may try to hit 0.382 (TP: 46000 – 46800+).
it is overextended from bb ema , expensive nifty50 will help gold to move up