We have to linked the uptrend since November 20 to January 21 to current phase of retracement. One would be able to visualize a "Bullish Flag" pattern. However, fundamental aspects associated with gold price movement, second wave of Covid-19 and its ramifications on demand for gold, effect of covid-19 second wave on the wedding season have large bearing over technical breakout. We prefer to monitor price and volume movement.
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