Gold Trading Opportunity: Gold on daily chart currently trading at 1213 fell from 1228, as shown in the chart technically forming a inverse head and shoulder pattern where currently forming a right shoulder which the base should be around 1212-1214., If the day holds or close above 1213 can see a sharp rise till 1233 upside which the pattern will complete. A break can see a rise till 1260 as per pattern calculation. Overall we adivse to buy or add the positions from here to upside 1233 and invalidation of this pattern can be seen when it close below 1200 on closing basis.
Suggestion: Buy Gold from 1212-1214 FOR 1233 STOPLOSS COULD BE 1198
The information, analysis and estimates Contained herein are based on BSH Research assessment and have been obtained from sources believed to be reliable. This document is meant for the use of the intended recipient only. This document, at best, represents BSH Research opinion and is meant for general information only. BSH Research, its directors, officers or employees shall not in any way be responsible for the contents stated herein BSH Research expressly disclaims any and all liabilities that may arise from information, errors or omissions in this connection. This document is not to be considered as an offer to sell or a solicitation to buy any securities. BSH Research, its affiliates and their employees may from time to time hold positions in securities referred to herein. BSH Research or its affiliates may from time to time solicit from or perform investment banking or other services for any company mentioned in this document.
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