February 2, 2011

GOLD Inverted head and shoulders pattern

  • Gold hour chart is forming an inverted head and shoulders formation in hour chart.
  • Price should sustain above 1348 for bigger up move to happen.
  • Those who try to go long should also note that price is trading below 50 day and 20 day moving average. Price closing above 20 day moving average will favour a gold bull.
  • ES HOUR CHART ANALYSIS

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1 comment:

  1. AnonymousJanuary 15, 2012 at 3:49 AM

    very informative article, pls update more , i am using the same pattern in my technical analysis to provide NSE India Equity Intraday Tips to

    my clients, I am just leaving a Call for Monday market - CAIRN which perfectly fits into Inverse Head & Shoulders' Pattern in 10min and 15min

    Chart and it says neckline Bar close value @ 337.85, so CAIRN buy above 337.85, Target upto 350.2 Stoploss upto 329.

    Krishnamachari Venkataraghavan
    http://www.stockresearch.co.in/

    ReplyDelete

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