Buying Opportunity in the Commodity. The Commodity has been correcting from a higher level. Gold is usually used as an Inflationary hedge, there is war tension again increasing which can fundamentally lead to increased price of gold.

Technically gold has formed a gartley harmonic pattern. As per western studies at 1840 there is support and buying pressure has been seen. Buyers have been aggressive at this level.

Stochastic crossing at lower level will be a confirmation to buy entry.

Advice : Buy Gold if it closes above 1870 with stochastic supporting the price action.

GOLD

May 03 2022