gold positional trade setup
Resistance level 1229. which is again strong sell of region.
Entry 1229 with SL 1236
target 1152 , 1125
Goldtrading
GOLD - CAN BE SHORT7th January 14:30 HOURS - IST
GOLD RALLIES TO 1185-1190-1195 to find Resistance and helpful to Short to upto of 1160-1165.
Traders may keep Stop Loss above 1198
Gold looking good to break out from the bear channelMACD giving a positive divergence and Gold is also looking oversold in terms of the distance from the 200DMA. Good chance that we get a solid rally. Good mean reversion at play here.
