Technical Outlook & Trading Strategy:-
The price of Gold has registered a fresh life high with the consolidation breakout witnessed during the previous session of trade.
A Fibonacci Extension of the recent corrective move suggests that the current breakout would
see the price of Gold hit upside targets of Rs 28746--Rs 29528 levels.
We recommend traders to buy on dips between Rs 28300--Rs 28200 levels with a stoploss placed below Rs 28079 levels for upside targets of Rs 28750 / Rs 29000 levels, expected to be achieved over the upcoming 2-3 sessions of trade.
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