The Bullish "Gold" Bullion
Earlier, we posted Daily, Weekly, Monthly and 3 Month Trend Charts for Gold and found that all timeframes (short to long term) show the Bullion to be Bullish.
But Gold faced a major resistance at 2145 and fell sharply. This is a Multi-year Cup & Handle Trendline BO attempt that failed for a short period. Inside this large Handle portion, there was an embedded Inv. H&S pattern which completed its target.
Now, after retracing a little, Gold has again formed an Inv H&S pattern on lower timeframe (4 Hours - Daily) giving re-assurance that the Bullion is indeed Bullish. One last resistance to break around 2040. Once done, it will jump back to 2145 attempting the ATH BO and reaching new Heights.
RBI has opened up the SGB scheme again (Dec 18 - 22). Guys don't miss this opportunity and grab it with both hands - Digital / Physical gold - its the time to start accumulating if you have not done so before.
But Gold faced a major resistance at 2145 and fell sharply. This is a Multi-year Cup & Handle Trendline BO attempt that failed for a short period. Inside this large Handle portion, there was an embedded Inv. H&S pattern which completed its target.
Now, after retracing a little, Gold has again formed an Inv H&S pattern on lower timeframe (4 Hours - Daily) giving re-assurance that the Bullion is indeed Bullish. One last resistance to break around 2040. Once done, it will jump back to 2145 attempting the ATH BO and reaching new Heights.
RBI has opened up the SGB scheme again (Dec 18 - 22). Guys don't miss this opportunity and grab it with both hands - Digital / Physical gold - its the time to start accumulating if you have not done so before.
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