The Commodity is trading near its resistance zone; a breakout from here would be an opportunity to enter long in the gold. As previously we had given a buy call on the commodity, the commodity has appreciated and as the fundamental tension going in the world usually gold is the one which appreciates as it is used as a hedge.

At the current level, some correction or retracement can be an opportunity to buy the commodity at a lower level. If the Pair moves in one direction and a breakout is seen in the coming 2 days, movement in the commodity will be quick.

Advice: Risky Trader can trade on the breakout.

Gold

Mar 04 2022