PART 2: When Will MCX Gold explode?
On 15 Feb 2021, I have written an article on Gold. First, click below & read again:
When Will MCX Gold explode?
I have written in that article, “If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement. Targets: 46860 – 46600 – 46000 – 45660 – 45200“.
Gold has touched all targets.
Keep eyes on the retracement value of 0.618. It will act as a resistance.
Targets: 44260 – 43600 – 43000 – 42260
Alternative scenario: If gold remains above 45200, it may try to hit 0.382 (TP: 46000 – 46800+).
UPDATE: Mentha oil – Profit Booking Time
How many of you bought Mentha oil after reading this report?
MCX Mentha Oil Overall Outlook Is ‘Strongly Bullish’
Mentha oil made a high of 964.9 yesterday, and the first target has come.
Approx. Profit /L = Rs.15,000+
The short-term investors can book profit here. As I mentioned in the above chart, it’s MA crossover time. It may move sideways.
Overall, it’s in an uptrend. Hence, the targets will remain the same.