Gold Comex Hourly chart
In hourly chart of gold comex price formed an triangular pattern and it broke down as well confirming the continuation of the down trend.
The triangular pattern target was $16 which was achieved at $1305 (1322-16) level.
The rally after triangular pattern breakout or breakdown is know to be the last leg of the whole rally.... and it seems like in gold comex as well bottomed out and we may an upside from $1305.
Now as long at $1305 hold upside in gold can be seen till $1335-$1350 .
This is just for educational purpose. Please consult your adviser before trading.
Regards
Rinkesh Jain
The triangular pattern target was $16 which was achieved at $1305 (1322-16) level.
The rally after triangular pattern breakout or breakdown is know to be the last leg of the whole rally.... and it seems like in gold comex as well bottomed out and we may an upside from $1305.
Now as long at $1305 hold upside in gold can be seen till $1335-$1350 .
This is just for educational purpose. Please consult your adviser before trading.
Regards
Rinkesh Jain
Hi Rinkesh,
ReplyDeleteCan one go long in gold at the current price level at $ 1305 range?
Closing above $1350 will confirm the uptrend...!
ReplyDelete