There is a classical pattern found in Gold for longtern journy.
Note: Always try to find a good price action patterns or any candle stick patterns in marked zones to take entry with small stoploss.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
Gold Comex is trading near channel support levels of 1680-1690$ One can Go Long at these levels, Also its trading at 20 Months average of 1691$ per ounce. We may see commodity resuming its uptrend.
On the 4 Hourly Charts Gold MCX has Strong Support Zone around 49900-50000, As it was previous Channel Resistance now acting as support. We may see the uptrend resuming, On should follow strategy to buy on correction and Hold for investment with Stoploss below 49000 on closing basis.
GOLD COMEX is trading in Rising Wedge Technical Pattern (Marked with Blue Lines in the chart Above) Support Zone for the GOLD COMEX is 1725- 1735$ Per Ounce. On can Buy with Targets of 1772$ and Stolploss Below 1710$... You Can Use These Levels to Play GOLD MCX MINI (Take you Own Decision and Analyse you Risk Capacity Before Entering into position)
