Gold is showing a fairly flat day at 877 after trying to bounce to the 200 day moving average at 888. The unit remains in a well defined bearish channel with the top coming in at 902. Risk remains for a drop to the June low of 858, followed by a massive 846 pivot. Now support for the gold MCX is seen at 12029 and below could see a test of 11943. Resistance is now likely to be seen at 12219, a move above could see prices testing 12327.
Trading Ideas:
TRADING RANGE IS 11943-12327.
BUY GOLD @ 12150-165 SL 12090 TGT 12200-235-270-310. MCX(YESTERDAYS BTST)
SELL GOLD @ 12320-350 SL 12390 TGT 12270-12215-12160-12080. MCX
A BREAK OF 12100 IS BEROSH TILL 12000-11860. MCX
CRUDE IS STILL BELOW 120$ CREATING PRESSURE ON BULLION
MCXARUN
9994500540
Subscribe to:
Post Comments (Atom)
![[Most Recent Quotes from www.kitco.com]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_sb402L2rd9WQzPKG4VXbOE5HpTng3YEpY--U1JOLzm32lKyqyw5nq0fnBNP_-ry7xF6A1uQH-qwlzfMdkmD0Q-MoQbi2JYzKqVB7x-PzHq-2_OVKbtVXxma-4bj_2Habt1XA=s0-d)
![[Most Recent Quotes from www.kitco.com]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_tz_QQyU2oXUKq1xEV4YskQ52ocTsPuPauHg2ewsj13hxoIgpaSQIat_y-vMeWmMWsA7sh8N5TsK4hkrrcODeZ9dN9MLcCbJ9ky6cWUad34Ls9B4t3VMO6pKHqzuCsRpXJjtfZx=s0-d)
![[Most Recent Quotes from www.kitco.com]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_vR77HHdfq4gF8I2EqWaa9BvJb-Xwlb8rBWwEwwZ5_Ax5j7zGaghFFHWHXACVV54KJ4uGQlefIxYO2ygn1j2k1aWWO9WaDfzGZVnZ18SBA44MpP27kg670jUdg=s0-d)
No comments:
Post a Comment