Hi friends,
Looking at Gold chart this commodity has corrected for more than a year now
its biggest in last 12 years timewise.
Looking at the chart technically,It seems gold could be making a triangle or a flat.
As we have seen 2 consecutive abc's ,A good setup for a long at present juncture
and in dips.
Gold would move in two slanting red trendlines for quite some time and should hit
1390 positionally,1180 is the support below which the present pattern fizzles.
So ideal buy would be buy as near possible to 1180 ,To minimize the risk.
Regards
Rish
Looking at Gold chart this commodity has corrected for more than a year now
its biggest in last 12 years timewise.
Looking at the chart technically,It seems gold could be making a triangle or a flat.
As we have seen 2 consecutive abc's ,A good setup for a long at present juncture
and in dips.
1390 positionally,1180 is the support below which the present pattern fizzles.
So ideal buy would be buy as near possible to 1180 ,To minimize the risk.
Regards
Rish
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