Gold took support from Daily 200 Day Moving Average BUY GOLD ABOVE 48700, Day Closing Above This Level Will Make View Solid, Strict SL - 47500 (DCB), Target - 50300/51000
MCX Hold Breaks Head & Shoulder Pattern. we are Long at 49440 for Target Given
Overall, MCX gold is collapsing. Look at the chart, if it breaks a low of 48924, we may see freefall up to 48500 - 48360 . According to 50 MA, gold will try to push the upside. If we see the gold closing price above the second top of the trendline, it will start rising for the levels of 49760 - 50000 . Here ADX is less than 25 and 200 MA throwing a direct sell...
Gold mini levels ...07/12/2020 (1hr candle)
(Last - 49177 / 21:05 Hrs / 4th Dec2020) Bullish Gartley + Piercing candlestick pattern (Bullish Candlestick) - suggest precious metal can start upside trend travel to 52500 (Target 1) & Strictly Above 52500 can travel to 56200+ (Target 2) - Stops below 47550 The piercing pattern is a two-day candle pattern that implies a potential reversal from a downward trend...
Gold is respecting the Fibonacci levels and there's strong possibility it can go further down till 127.2% Fibo level i.e. ~48,200
Taking Support at 200d EMA need further confirmation.
#gold is bullish in long term, use the current dip to start accumulating gold this can give multi-fold returns in the next few years.
Details as per chart, inverted head and shoulder
Price forming Rounding bottom pattern and presently falling down to take the support as shown in the analysis. One can expect a good up movement after taking the support from the pattern. If you find my analysis helpful . . . . . Please show your support by hitting 👍 LIKE button, Your Support is very much 🙏 appreciated!
GOLD M - TRADE OUTSIDE THE ZONE WITH PROPER BREAK OF TREND AND LOW VOLUME PULLBACK DONT GET TRAPPED
Gold forming Ascending Triangle pattern and if breaks the resistance it will move further up considerably . . . . There is a big fall so it is expected this pattern to break up, lets wait and see. If you find my analysis helpful . . . . . Please show your support by hitting 👍 LIKE button, Your Support is very much 🙏 appreciated!