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Technical Analysis
What is Star Candlestick Pattern means in Gold Chart?
Posted by
09-Dec-14 02:17PM
STAR CANDLESTICK PATTERN is a trend reversal pattern. It is always form in the top and the bottom in the trend.
Look the chart which is mention here. Star candlestick form in the bottom. For more information about the candlestick patterns Join NIFM. Visit Our website www.nifm.in.
Recommendation: Buy
Gold settled with a STAR CANDLESTICK PATTERN. Today support would be at 26280 any BREAKOUT below this level would bring more weakness and then the decline towards 26100-25900 zones possible. Areas of 25900 will remain key support on closing basis and any closing below this level would bring more weakness and then retest to 25600 and more down side can’t be ruled out. Resistance is now seen around 26480 any sustained move upside above this level would bring more charm and then we may see a rally towards 26600 zones. Key resistance would remain at 26700 zones.
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