Bullion : Inverse Head & Shoulder

Gold has formed a Inverse Head & Shoulder Pattern which is bullish Reversal Pattern.

Convincing Break & couple of close above $976 can target previous high.

Only catch is this pattern is genrally formed at the bottom after a lengthy down fall, yet in this case it has been formed almost near the previous top. This makes the success of the pattern a doubtful case.

Time Knows the truth. :-)

Regular Disclaimer & Disclosure to be read, mentioned elsewhere on this blog.

Nifty - Fibonacci Support & Resistance

Nifty - Fibonacci ratios indicates a target of around 4763 (61.8% of total correction).

Will it be achieved straight off or 50% & 38.2% support line will be tested first.

Carring positions with perfect & strict stop loss is must.

Enjoy. :-)

Regular Disclosure & Disclaimer to be read from the blog mentioned elsewhere.