MCX Gold Guinea is following a parallel channel since August 2020. Recently, it has touched the support trendline and started moving forward. Will it keep moving? How much? It will keep running for 37600 - 38000 levels.
But according to MA, Gold Guinea should keep falling. And for the following levels: 36800 - 36400 - 36000
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...
Gold has started rising from U.S. Presidential Election. I have said in the previous newsletters, bullion sector commodities are strongly bullish. How many of you bought Gold and Gold Guinea?
MCX Gold Measured Moves
I had written for the intraday traders that, " ...the day traders can follow the following targets: 51000 – 51360 – 51860+
And short-term...
U.S election result will come soon. Today, we have chances to see solid movements in MCX's bullion sector commodities. And Gold Guinea crossed 50 MA upper side.
Intraday & short-term traders can buy using this strategy to make some money. Targets: 41800 - 42200 - 43000+
If it closes below 50 MA , then don't hold your position in loss. I prefer to exit after...
