Bullion - Technical Update

Gold has broken above the trend line & also retested the line & moved up.

There is a probability of touching previous high. Traders can keep stop loss below the trend line.

Gold is trading way above the 200 EMA as of now & long term investors can keep stop loss of it to maintain the positions.

please go through the disclaimer mentioned elsewhere on the blog.

Disclosure : I am holding the positions in above mentioned stock / commodity.

Bullion - Technicals

Gold is moving in a triangle with base @ $1074, which incidentally is an important Fibonacci support ( 50% Retrace).

Next trend resistance & the Fibonacci level is around $1110 , breaking of this level will give a triangle break out & Gold has potential to reach its previous high.

Stop loss of $1070 is must.

please go through the disclaimer mentioned elsewhere on the blog.

Disclosure : I am holding the positions in above mentioned commodity /stock.