Head & Shoulder Pattern has been found in 15 Minute Candle.....
After a Long Joutney Now Gold will be Haulted over here and in Short Term it will be In Bearish Zone....
Kindly Take ur Financial Advisor’s Advice b4 Investing...
MCX gold overall trend is upward. The position can be initiate at 52360 . It will keep moving upward after consecutive closing above to the control price. And we may see prices at 53000 - 53660 - 54000 - 54600+ levels.
Don't forget to follow the control price (CP). If gold breakdown CP, it may fall for 51360 - 51000 - 50500 - 50000 levels. Watch out the...
TARGET = 50,700
Clear Trendline and soon it will break
Gold Price Will be more DOWN once Covid-19 vaccines comes out fully .
Have a selling mindset in gold even after vaccines comes to INDIA .
On the 4 Hourly Charts Gold MCX has Strong Support Zone around 49900-50000, As it was previous Channel Resistance now acting as support. We may see the uptrend resuming, On should follow strategy to buy on correction and Hold for investment with Stoploss below 49000 on closing basis.
DISCLAIMER : I AM NOT A SEBI RESITERED ADVISOR SO TRADE ON YOUR RISK
BUT I HAVE GOOD EXPERIENCE IN STOCK MATKET FROM LAST 17 YEAR SO I AM JUST SHARING MY EXPERIENCE WITH YOU ALL
INVESTMENT IN STOCK MARKET IS SUBJECT TO MARKET RISK
Gold has corrected well from the recent highs and if it sustains above 54850 levels then take the trade with the following targets
T1 - 54997
T2 - 55143
T3 - 55299
with SL - 54690
According to this chart, gold is reversing downward after making an all-time new high of 56191 . Its support level is 53800 . You can take this level as a hurdle too. We may see a correction up to this after the breakdown of DR.
This dynamic resistance will initiate buying pressure for a short period. We have chances to see 55600 (T1) to 56000+ (T2)...
Can buy once candle closed above 53665 for the target of 54269- 55052-55942 SL 53134
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
