GOLDPETAL | Cup & Handle - Looks good for 100 points(Short term)
CMP : 4785
SL : 4750
Target : 4885
1:4 risk reward
We are already holding good position for long time. This is just a short term speculation
As per the FOREX GOLD chart idea I have been posting in the last few weeks, the gold is in accumulation stages and GOLDPETAL Contracts are being traded in the MCX with good volumes.
The following idea shows that GOLD has had very strong RSI with above 40 in the last two months.
Price breakout chart in USD can be seen below for XAUUSD.