SILVER was trading under the Resistance trendline since mid May (shown in black in chart), but today it gave a breakthrough opening in the morning on MCX.
If it closes above 63800, then we can make a long position in current contract for a major profit.
LOGN SILVER @ 64800.
Silver has a major resistance at ₹ 65800, if it gives a closing above this level, then...
Silver is bullish in all time frame
about to complete a pullback and formed triangle.
In this counter we should be on a look out to create a fresh long entry for marked target.
Any bullish reversal candle in 15 min tf, should be used to make entry
R:R is a good 1:3
-Head & Shoulder pattern
-High of $ 30 tested in Feb but could not conquer.
-Black trendline from last Oct could be the last saviour.
Though I doubt that because eGold is also showing signs of short term bearishness.
T A R G E T : $ 19 (Dec 2021)
June was a brutal month for Golf bugs. The Inflation news along with political developments stopped the rally of April -May, which resulted in Gold posting again of 14% in 2 months.
Trend is bullish for Gold, however 2-3% slide cannot be ruled out from 1810 levels. 200DMA resistance at 1825, is important to be monitored before any fresh long buying.
Gold Resumes it's bullish Move and Big Mutual Funds are Backing it.
Gold has recovered from the support level of 44000 and now it has resumed its bullish move Indicators are confirming this trend too.
Add gold to your portfolio now.
Major Multi assets funds are betting on gold more than the top equity market stocks.
Gold in Technical has been respecting trendline and resistance on weekly.
We should see a surge upwards if it sees a losing above the rectangle zone/trendline.
Gold is yet 20% from the ATH.
Global economics should give an early sign for gold price to go up
Disclaimer - Just my View and not an advice
I dont know what to say, please see my all posts of gold, Gold sell call given at 52320 with sl of 52550 which was ascending channels high when i posted the chart previously, it made high of 52520 and touched the lower level of channel, infact it tried to make low around the level where the channel actually started, which was the final target of ascending channels...
Gold is about to touch ascending channels high, This is the place to lookout for sell for a fall or to buy again above breaking of ascending channel. Stay Alert. Will Update. All The Targets To The Previous Call In Gold Has Achieved.