Buy MCX Gold at 14,944.43 SL at 14,844.89 and hold it till 15,293.51 Risk to reward: 1:3.5, From 15,293 it will drop till 14,750.17
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...