The fall from highs of 64200 levels to 28000 levels has been seen in the past months. after which the retracement from lows was upto 51000 levels 0.618 levels. again entered a bearish range. a strong resistance turned support lies at 42400 levels . a breakdown below that will lead it to 37000 levels. on the upside above 50900 levels the bullish bias can be retained.
tested triple bottom of 44100. has seen spurge in volumes on the upmove candle . has broke out of falling trendline. go long with a sl of 44100 . a breakout above the box range of 45000 will lead to a target of 45900. can re buy at 44600 levels.
WITH USD/INR REVERSING DO WE SEE IT SECTOR OUTPERFORMING IN THE COMING DAYS?
RETESTING DONE OR READY FOR BREAKDOWN? holds 735 levelsthen 822 next or breaks dowm to 650 again.
good results plus a breakout .
RESULTS ON 20TH. STAY AWARE OF FALSE BREALOUT FROM FALLING TRENDLINE.
WITH TESTING THE 0.618 RETRACEMENT LEVELS AT AROUND 1681 LEVELS GOLD IS READY FOR NEW HIGHS AFTER BREAKING OUT OF A DESCENDING TRIANGLE. WITH RSI ALSO AT BREAKOUT ZONE ABOVE 75 AND RISING INFLATION FEARS DO WE SEE 2182$ ON CARDS?