Tuesday, August 20, 2013

Gold setting stage for a Possible Large downside correction

Gold prices show a clear 5 down from top of 32780 levels and than bounced back sharply now facing Resistance at 78.2 RT fib .  the RSI is also at imp resistance . Medium term if we see a possible  zig zag 5-3-5 correction we could be headed as low as 23000 again --- please ignore the current week candle which looks like doji as Snap take mid week

MCX Gold Weekly 

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