Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Gold: Doji Pattern Shows Uncertainty Amidst Ascending Triangle

Published 11/25/2012, 04:57 AM
Updated 05/14/2017, 06:45 AM
Comex_Dec_Gold_Doji
The December Comex Gold chart shows an ascending triangle which is marked by uncertainties as indicated by the doji pattern (with opening and closing prices at a very narrow range). The first line of resistance is at $1740 per ounce while second resistance is at $1750. First support level is at $1702 and second support level is at 1675.
MCX_Gold_Ascending_Triangle
In Gold December futures at India's Multi Commodity Exchange (MCX), the yellow meal is exhibiting some indecisiveness as shown by the doji pattern even as market is generally moving up on account of festival demand and rise in global prices.

The upward movement in prices in recent days is not sufficient for a bullish trend to emerge and could be described as sideways.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.