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.
Posts
No comments:
Post a Comment