MCX Gold Guinea is making a triangle pattern. As per the ADX, the trend is weak and, +DI is above the -DI. That indicates an uptrend ahead. Additionally, 200 MA isn't broken.
According to DMI & MA, we have chances to see 40260 - 40500+ levels.
But, if you look at the triangle pattern, it seems bearish. We have more chances to see downward (huge selling pressure) if it breaks the support line (dashed). And 50 MA is indicating the same.
Hence, once it breaks the support line, intraday traders can sell for the following targets: 39460 - 39260
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Do you want to know where MCX Gold will go? Read Here:
The highlight you are trying to show as Triangle , In my personal opinion its Not Triangle , Rest Good luck
MEGALO1
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Very intelligent charting seems to be very a short window before Guinea breaks the dynamic resistance & does a moon shot 5o dma curves up and a new bull trend is developed :-))) i believe this scenario is more to conducive given the recent political climate in the U.S. you know with old McDonald foregoing that big X on the Declaration :-))) throws a monkey in the wrenching all the markets???