Gold: From Monday i was of the view that Gold bullish run is showing sign of Exhaustion. I have a clear predefined target of 2162 and 2153 which is successfully Met. Gold Made a retracement till 2150 which is also Fib 61.8 Level, identified. It was 300 Pips Move.
Now Gold Exhibits a inverted Cup structure on 4 H chart. Which compels me to think, sell the Top gold will make. Also Daily Chart shows a Bearish Engulfing after Spinning Top. My ideal Selling area will be 2165.5 Which was double rejection Yesterday and Other Selling area will be 2170-2172 (Near 20 SMA -4H) Target for this sell will be support 2052-2042-2032. According to me Gold will go continue its correction till 2132 and if broken 2100 before going towards the 2248 The ultimate high I am expecting.
How do u see the Gold analysis? do comment
This is my outlook not a trading advice
Now Gold Exhibits a inverted Cup structure on 4 H chart. Which compels me to think, sell the Top gold will make. Also Daily Chart shows a Bearish Engulfing after Spinning Top. My ideal Selling area will be 2165.5 Which was double rejection Yesterday and Other Selling area will be 2170-2172 (Near 20 SMA -4H) Target for this sell will be support 2052-2042-2032. According to me Gold will go continue its correction till 2132 and if broken 2100 before going towards the 2248 The ultimate high I am expecting.
How do u see the Gold analysis? do comment
This is my outlook not a trading advice