MCX Gold Measured Moves
Updated
Gold has made a Doji in the weekly chart. It's a direct sign of a reversal. And wherein ADX is less than 25 but +DI above the -DI. Additionally, the 20 MA line is trying to stay downside.
In short, DMI & MA is throwing a strong upward signal. Moreover, its volume is increasing. This week, we have chances to see gold prices above the 51860 levels. The day traders can follow the following targets:
51000 - 51360 - 51860+
And short-term investors can hold for 52000 - 53000 - 53560+ levels.
All you need to do is watch out for a dynamic support trendline. It should remain above it. Else, it will start falling. And that downfall for the levels of 50000 - 49600 - 49360.
Significant releases or events that may affect the movement of gold:
Monday, Nov 02, 2020
Tuesday, Nov 03, 2020
Wednesday, Nov 04, 2020
In short, DMI & MA is throwing a strong upward signal. Moreover, its volume is increasing. This week, we have chances to see gold prices above the 51860 levels. The day traders can follow the following targets:
51000 - 51360 - 51860+
And short-term investors can hold for 52000 - 53000 - 53560+ levels.
All you need to do is watch out for a dynamic support trendline. It should remain above it. Else, it will start falling. And that downfall for the levels of 50000 - 49600 - 49360.
Significant releases or events that may affect the movement of gold:
Monday, Nov 02, 2020
- 11:00 - Gold Index
Tuesday, Nov 03, 2020
- 05:30 - U.S. Presidential Election
Wednesday, Nov 04, 2020
- 02:00 - U.S. API Weekly Crude Stock
- 21:00 - U.S. Crude Oil Inventories
Trade closed: target reached
Gold has touched the first two intraday targets.Trade closed: target reached
Gold has touched all intraday trading targets.Note
Gold has also touched the first short-term target (52000).Profit Rs.1,30,100 /mega lot
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