Is GOLD REVERSING its TREND ???
Gold is forming what is technically called a "Head and Shoulder" formation. This is a trend reversal pattern suggesting a halt in the bullish trend .
The crucial level (based on the 'neckline' formation, to be watched is the 11500 level on Gold M contract. A break and close below this should lead us to the vicinity of the technical target of Rs 10000/-
The whole pattern will get negated now only on price rising above Rs.12350/-
Surely a security worth watching - even if you don't trade in Gold !!
Happy trading !
CA Rajiv D Khatlawala
1 comment:
Very good one...
I wish I had commodity trading, I would have shorted on Futures.
I can ponly watch it from sidelines..:-(
Please share from your experience, how you pick the topic like particular security or Commodity for analysis on a particular day?
Due you use any automated analysis software for a set of criteria or just random picks as per current affairs?
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