Gold - triangle pattern breached on upside.
Gold has given a Buy signal on daily charts, triangle pattern breached on up side.
Other indicators are giving positive signals too.
A long position can be considered near 1501-1505 levels, with a stop loss of 1488 for first targets of 1530,
once the resistance of 1530-1534 is crossed, it easily retest 1550-1555 levels.
Keep in mind, there is an important Fed meeting early next week, Gold prices will be quite volatile and based on newsflow.
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This post is not an advice to speculate using leveraged products, one must thoroughly understand the financial implications involved, consult some financial advisor before taking any positions.
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Please consider hitting the LIKE button below the chart, if you find this post / idea worthy or informative. You may also FOLLOW me over this forum for periodic updates on Nifty, Bank Nifty and bullion.
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Other indicators are giving positive signals too.
A long position can be considered near 1501-1505 levels, with a stop loss of 1488 for first targets of 1530,
once the resistance of 1530-1534 is crossed, it easily retest 1550-1555 levels.
Keep in mind, there is an important Fed meeting early next week, Gold prices will be quite volatile and based on newsflow.
------------------------------------------------------------------------------------------------------------------------------------------------
This post is not an advice to speculate using leveraged products, one must thoroughly understand the financial implications involved, consult some financial advisor before taking any positions.
----------------------------------------------------------------------------------------------------------------------------------------------------
Please consider hitting the LIKE button below the chart, if you find this post / idea worthy or informative. You may also FOLLOW me over this forum for periodic updates on Nifty, Bank Nifty and bullion.
Please add a comment... Positive feedback and constructive criticism are important to authors as well as the community.
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