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Friday, March 4, 2016

MCX Gold Technical Analysis

Bursting Setup – MCX Gold

This is a recent breakout example of MCX Gold. The breakout came into effect after the formation of The Bursting Setup, a breakout technique developed by The Financial Doctors

This is the recent example for MCX Gold-

MCX Gold - 15 Minutes

It broke the Upper Price Wall of 29365 and it has already given 300 points in Intraday in MCX Gold. Prices consolidated. Price Pattern was acceptable. Volume Pattern was acceptable. Lets see where it takes Gold from here on.

Interestingly in COMEX Gold, it has just broken a Peanut Breakout Pattern-

COMEX Gold - 480 Minutes
So certainly this can result in a big move. We’re looking for a low risk Bursting Setup entry in COMEX Gold.

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