Gold may not fall below 1150. It made a low of 1132 in November 2014 and is rising since then (CMP 1227). Multiple factors are indicating that it a bottom has been formed. These are mentioned below –
a. Gold could not breach 61.8% level support of its long range swing
b. RSI is indicating a clear bullish diversion
c. Gold has started breaching fan resistance lines
d. Our proprietary trend indicator is indicating waning of long term down trend and formation of a bottom
a. Gold could not breach 61.8% level support of its long range swing
b. RSI is indicating a clear bullish diversion
c. Gold has started breaching fan resistance lines
d. Our proprietary trend indicator is indicating waning of long term down trend and formation of a bottom
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