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.
This is an add on analysis of my previous one on Gold, buying recommended at 50580, Gold has now made a strong base around 50500 level, if 50500 breaks with volume than only it will fall else m expecting a good upside move..
To update from the last week's rejection line, it broke upside and returned back to the accumulation zone.
This week could very well see a uptrend with global markets taking a hit on thursday and friday.
Gold prices can rally beyond breaking the rejection zone. It is still in the accumulation zone as per my previous post on the gold chart,
We have see two false breakouts happend in the last two weeks beyond and below our accumulation zone.
Bear zone is also indicated. If price falls to that zone, bears take control.
Gold MCX has strong Channel Line Support As marked on the above chart and we can see buying resuming in the GOLD MCX, With the Stoploss of 50400 one should Go Long for the Targets of 52000 and 54000 on the upside. Once GOLD MCX Closes above 52500 it May Again Resume its bullish momentum.
Gold has fallen from it's recent high of $2050.
Correction between $1940-$2000 range expected in the next couple of days. Accumulate depending on the market news regarding US Jobs, COVID Vaccine, US Election news & Trump.
First Support at $1960 and second Strong support at $1940 .