MCX GOLD last week showed choppy movements from last two sessions and took reversal from 38.2% retracement and it is consolidating around trend line. Now if it gives closing below 31000 then bearish rally is expected towards the level of 30500. On other hand 31500 is seen as strong resistance for it only above this some upward movement is expected.
Strategy
Better strategy in MCX GOLD is to buy above 31500 for the targets of 31900-32400 with stop loss of 30900.
MCX GOLD Technical Trend
MCX GOLD last week showed choppy movements from last two sessions and took reversal from 38.2% retracement and it is consolidating around trend line. Now if it gives closing below 31000 then bearish rally is expected towards the level of 30500. On other hand 31500 is seen as strong resistance for it only above this some upward movement is expected.
Strategy
Better strategy in MCX GOLD is to buy above 31500 for the targets of 31900-32400 with stop loss of 30900.
I think Gold has more chances to go up in short term ... Equity markets looks peaked and when FII start pulling out funds from equity, Gold will rise ...
Cheers!
Gold feb. : Sideways
resistance 2 : 31300
resistance 1 : 31150
support 1 : 30900
support 2 : 30800
MCX GOLD Technical Trend
MCX GOLD last week showed downward movements found strong support of lower band of upward channel i.e. around 30350 and give closing above this. Now if it takes reversal from current level then resistance is seen around 31250-31500. On other hand if it break support of 30350 then breakout of channel is expected and may find support around 29950.
Strategy
Better strategy in MCX GOLD is to buys on dips for the targets of 31300-31560 with stop loss of 30349.
MCX GOLD Technical Trend
MCX GOLD last week showed downward movements found strong support of lower band of upward channel i.e. around 30350 and give closing above this. Now if it takes reversal from current level then resistance is seen around 31250-31500. On other hand if it break support of 30350 then breakout of channel is expected and may find support around 29950.
Strategy
Better strategy in MCX GOLD is to buys on dips for the targets of 31300-31560 with stop loss of 30349
GOLD:
Trend updated for-Dec/29/2012.CMP-30663 Overall trend of the Gold is bearish for medium-long term .Currently Gold is moving sideways The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal .In last 1 month volatality is very less Buy the Gold above 31661 or buy with strict stop at 30249. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal For short term Gold is in HOLD SHORT position.Positionally Immediate support for Gold is 30249.Resistance for the Gold is 30976-31119-31221-31386-31455-31483-
GOLD:
Trend updated for-Dec/31/2012.CMP-30697 Overall trend of the Gold is bearish for medium-long term .Currently Gold is moving sideways The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal .In last 1 month volatality is very less Buy the Gold above 31661 or buy with strict stop at 30249. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal For short term Gold is in HOLD SHORT position.Positionally Immediate support for Gold is 30249.Resistance for the Gold is 30912-31074-31186-31382-31447-31477-
SILVER:
Trend updated for-Dec/31/2012.CMP-57660 Overall trend of the Silver is bearish for medium-long term .Currently Silver is moving sideways The Silver is now trading in oversold level. The Silver is now trading in oversold level. The oscillator is showing SELL signal .In last 1 month volatality is very less Buy the Silver above 63694 or buy with strict stop at 56994. The Silver is now trading in oversold level. The Silver is now trading in oversold level. The oscillator is showing SELL signal For short term Silver is in SELL position.Positionally Immediate support for Silver is 56994.Resistance for the Silver is 58498-59672-60705-60953-61031-61579-
GOLD:
Trend updated for-Jan/03/2013.CMP-31042 Overall trend of the Gold is bearish for medium-long term .Currently Gold is moving sideways The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal but has moved past its recent high with good volume points to a positive break out . The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal For short term Gold is in SELL position and closed above 1 week high with volume signals up breakout.Positionally Support for the Gold is 30911-30757-30710-.Resistance for the Gold is 31382-31463-31465-
MCX GOLD Technical Trend
MCX GOLD last week showed downward movements found strong support of lower band of upward channel i.e. around 30600 but closed below lower band show some weakness. Now if it takes reversal from current level then resistance is seen around 31000-31250. On other hand if it break support of 30600 then breakout of channel is expected and may find support around 30350-30000.
Strategy
Better strategy in MCX GOLD is to sell below 30600 for the targets of 30350-30000 with stop loss of 31060.
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