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Outlook: Gold downtrend stopped at 46720

  • 3... 2... 1... Let the Gold Corrective Rally Begin
free commodity gold tips chart

free commodity gold tips chart

Key Levels: 46720, 46250.
The corrective nature of the latest rebound suggests the Gold decline will continue. A break of hurdle will raise the possibility of the impulsive decline from near 46720. A strong selling signal will come after a breakout of 46250 levels. So, intraday (day) traders can start selling between hurdle and breakout levels for the target of 46000 – 45460 – 44900 below.

But according to the current situation, gold is trying to recover the loss from the last 2 weeks’ events. It’s not sellable until following the above scenario. We can see the gold prices at 48000 – 49000+ in the upcoming days.

Watch significant releases or events that may affect the movement of gold, silver & crude oil:

Monday, Jun 28, 2021
11:00 – Gold Index

Tuesday, Jun 29, 2021
19:30 – CB Consumer Confidence (Jun)

Wednesday, Jun 30, 2021
2:00 – API Weekly Crude Oil Stock
17:45 – ADP Nonfarm Employment Change (Jun)
19:30 – Pending Home Sales (MoM) (May)


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Mr.Dev, has been in the forex and commodity markets since 1997. He’s one of the few non-biased investment advisors to have correctly called the current bull / bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on Indian commodity markets & currency, he is becoming increasingly more renowned. Mr.Dev has been quoted in many of the newspapers. He is a highly recommended technical analyst by many of the local financial newsletters and advisory services. He also is founder of commodity profit sharing service on Moneymunch.

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