US GOLD
- US GOLD has formed bullish head and shoulder pattern , this indicates if Gold breaks its formation then sharp move is expecting. Once closes above 1345 bullish breakout will get triggered, close watch.
- Currently gold indicates that it is coming down from its golden ratio 61.8% fibonacci retracement resistance, as long as trades below trend for gold will not be clear , it will zig zag. But once gold closes and stays above 1323 its golden ratio resistance then trend looking bullish for next 1-2 trading days.
- Intraday close watch once gold starts trading above 1323, if stays above with volumes then intraday action is expecting in US Gold.
- Suggested Reading - MCX GOLD Is also facing strong resistance at current levels.
- Daily chart also indicates stock has also formed Triangle formation , this indicates if Gold breaks its formation on any side and comes out then sharp move is expecting as shown in graph no 3. Close Watch.
- Click here to see all the forecast (trading strategy) published by us on US GOLD.
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