GOLD CALL ROCKS….!!!!!!
HIT ALL TGT 31000 MADE HIGH
OF 31466
TOTAL PROFIT 30000 IN JUST ONE
LOT ONLY
Gold: Technical
Analysis
·
Gold
prices are rebounding robustly despite having broken support (the bottom of the
triangle) two weeks ago.The
move lower now looks more like a false break.Prices
have now risen to within striking distance of the top of the triangle at
$1,356. There is also resistance at $1,358, $1,367.30 and the the July high at
$1,375.25. Clearance of each of those levels will make the market look much
stronger. Clearance of the July high would then target the two HRLs on the
monthly chart (see inset chart) at $1,388 and $1,434.We
have said of late that we remain bullish over the medium term but a
profit-taking dip cannot be ruled out – we seem to have had the profit-taking
dip and the rally is resuming.
Outlook: We
expect gold prices to trade positive .
R2
|
R1
|
S1
|
S2
|
TREND
|
||
GOLD
|
31500
|
31400
|
31000
|
30750
|
BULLISH
|
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