Bullion - Head & Shoulder Pattern Updates

Gold has broken the Neck Line & touched the upper band & is reacting.

If Gold retraces back to the neck line & moves up again, probability is it will move ahead of all time high.

With Re weak against Dollar, there is a double impact in Indian market.

People, especially women are selling gold ornaments to cash in on the rally. But is it prudent?
Is this the top or we are still in the middle of a rally? :-)
International Elliot Wave Gurus has something else to say.
Well, more in the next post.

Please go through Disclaimer on this blog.

Disclosure: I may have position in above said stocks/Commodity for myself/ family members / friends.

Bullion : Reverse Head & Shoulder Pattern

Bullish Reverse Head & Shoulder Pattern is been observed on daily chart of Gold.

Probability is price may retraced back to the trend line before moving north , i.e around $960.

After confirmation signal, gold can touch its all time high.

Readers can draw their own conclusion about the promise and potential.


Please go through Disclaimer on this blog.

Disclosure: I may have position in above said stocks/commodity for myself/ family members / friends.

Index Outlook - Indicators, Elliot & Time Analysis

On Daily chart, MACD is about to break in positive zone with RSI already above trigger line,
Nifty is all set to achieve the upper band of 3050 - 3070. Stop loss of 2860 is must in this volatile time.

As per Elliot Experts, Sensex can go upto 9770 as a part of C5 wave. Also it coincides with 62% retracement. If it is able to cross this level then next target can be 10200 level.

Time Analysis indicates a bottom around March, & as per the Elliot Wave the bottom can be around 6200.

Readers can draw their own conclusion.

Please go through Disclaimer on this blog.

Disclosure: I may have position in above said stocks/index for myself/ family members / friends.