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MCX Gold prices blasted higher this year’s beginning, breaking out of their correction downtrend. What will happen next? Here’s how gold will perform this week:
This Time is Different for MCX Silver – 2020 vs. Dec 2019
First, I recommend to look out my 8th Dec 2019 Silver’s chart (Read Full Article).
Now, look at the current month chart:
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As I had drawn, silver has performed. What else you want!?
Anyway, look into the chart, I have been drawing a new trendline. That is a trend confirmation sign. Don’t buy the silver below the 46600 levels. It could fall up to 46000 – 45360 from there.
And above 47000 levels, 47500 – 48000+ levels are waiting.
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If history repeats, crude oil will head to 4500
We cannot say this the crude oil under downtrend. It needs a consecutive breakout below the hurdle line to confirm it. And that breakout will fall the prices up to 4020 – 3900 below.
Otherwise, it will start climbing for 4280 – 4360 – 4400+ levels.
How many of you bought the gold? We have updated many times that the gold is bullish up to 39000 – 39600 – 40000+. Use the following link to read the previous articles:
Today we have updated the short-term view of gold: Click here
But what about Intraday?Look at the below chart:
Today gold is positive up to 39080 – 39120+ levels. As described on the chart, a breakout of the seller area falls the gold prices up to 38850 – 38800 levels.
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8th Dec Gold’s Chart (Click here to read that article: Gold, Silver, & Crude oil Special Report) Eventually, the gold has come out from the box. The next hurdle is 39260 level. Above it, be ready for 39600 – 39800 – 40000+ levels.
A Strong Support Level:38560 (Below this, A Big Downfall!)