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Gold: Gold trading range for the day is 31000-30300. Gold is getting support at 30500 and below same could see a test of 30300 level, And resistance is now likely to be seen at 30700, a move above could see prices testing 30900. Gold is trading into positive zone .Gold prices fell on Thursday as trade
tension ease from U.S. and China. On the
daily chart, COMEX Gold has been
moving up-down with high volatility,
where price has crashed almost $25 in
last two trading session. Moreover, price
has tested 61.8% retracement level of its
prior upward rally from $1306 level to
$1356 level; which could be a immediate
support for the prices. In addition, A
momentum indicator RSI (14) has also
found the support of lower trendline on
daily chart; which intimate reversal
sentiment in the prices. Therefore, we
expect bullish move for near term.
R2
|
R1
|
S1
|
S2
|
TREND
| |||
GOLD
|
31000
|
30700
|
30500
|
30300
|
SIDEWAYS
| ||
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