GOLD - Weekly Chart Profit Booking
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Gold seems to have completed the Rounding bottom pattern target on the upside.. Profit booking could be seen.. trail with strict SL
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GOLD 4 hr chat = CMP 2557
Price fell one way from 2800 to 2550 levels now..
Price is currently almost at the support/halt/confluence zone
FIB levels at between 50 and 60%
Previous consolidation resistance at 2530 ( now turns support)
AVWAP from the lows are now placed at 2537
If short, it is better to book out and wait for a bounce.. But Fresh shorts are not advisable here..
This is't a buy call.. One can play the bounce for short term trade.. but more pain ahead
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
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