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Thursday, February 4, 2016

COMEX Gold Technical Analysis

Bursting Setup – COMEX Gold

This is a live breakout example of COMEX Gold followed by the breakout in 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 live example for COMEX Gold-

COMEX Gold - 15 Minutes

It broke the Upper Price Wall of ‘$1133.4’. Prices consolidated. Price Pattern was acceptable. Volume Pattern was acceptable. Lets see where it takes Gold from here on.

Interestingly this may result in a big move for MCX Gold as seen in this example -

MCX Gold - 120 Minutes

The Upper Price Wall of ‘27145’ has already been broken followed by an immediate breakout of 150 points. It will be interesting to see as if how far this move in MCX Gold will go.

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