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Comex Gold future settled down $ 7.60 an ounce at $ 1405.90
On Thursday, gold dropped after upbeat US data, including jobless
claims, factory data and home sales buttressed the view economy
gained momentum as the year ended. The US labor department post
weekly jobless claim better tan expected fell by 34000 to 388K. The
first time weakly claim have fallen bellow 400K since July 2008.
Another news sparked profit taking into gold, Chicago business
burometer, a survey of regional purchasing managers considered
to be a leading national economic indicater, surged to its highest
level in 22 years, at a 68.6 reading.
The US dollar index also test sloid technical support 79.40, but
contuning weakness in the US dollar failed to support perious
metals.
The technical support for Feb Gold at $ 1400.00, if broke that
it would open the door to additional support at $ 1393.00.
The upside resistence at $ 1416.00 with a major near term
target at $ 1433.00 the all time high scored on Dec 07.
Note : A year ending and pre holiday profit taking and book
squiring may be seen any time in the market which result
hammer near term support $ 1393.00
MY COUNTS FOR LAST DAY OF 2010 FOR FEB GOLD
RESISTENCE #1............................$ 1417.00(MCX Rs 20840)
RESISTENCE #2............................$ 1413.00(MCX Rs 20773)
PIVOT .......................................... $ 1407.50(MCX Rs 20729)
SUPPORT #1................................. $ 1400.00(MCX Rs 20660)
SUPPORT #2................................. $ 1394.00(MCX Rs 20616)
RECOMMENDATION : SELL ON HIGHER LEVEL WITH STRICT STOP LOSS
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
DAILY GOLD TECHNICAL TREND POWERED BY : RAHUL KUMAR (Daily trades recommendation includes entry, stop and target with a technical analyzed chart: call now +91 8193003476)
DAILY GOLD TREND FOR 30 DEC
"Is gold a bubble at $ 1400.00?"
" Bullion outlook for the year 2011"
"How to invest in bullion for 2011?"
We are going to publish above articals before 10 Jan 2011 for subscriber's only.
Comex gold future price higher continously third day
in a row traded up $ 8.00 at 1413.60 an ounce drive by
weakness of US dollar. On Tuesday, the Conference Board
reported a drop in December consumer confidence
to 52.5, from 54.3 in November which left the dollar index
under pressure.
Today at 1330 GMT(7.00PM) will offer traders the next clue on
the health of the U.S. labor market when weekly jobless
claims are due for release. The previous week's
data came in at 420,000
The jumps in commodities prices are due to worries
about inflation as the Federal Reserve and other major
central banks around the world are effectively printing
money and increasing the money supply, which reduces
the value of the currency apart from this a physical demand
for precious metal stayed strong majorly from Asian sector.
Technically the Gold future remain in bullish pattern all trends are
up, market upside objective a retest 7 Dec high 1432.5 headed
towards $ 1450
The downside should be limited because of weakness in
US dollar index continue support the yellow metals/. Near short
term support at $ 1405 with a additional support $ 1397.
MY COUNTS FOR 30 DEC FOR FEB GOLD
RESISTENCE # 2............................$ 1422.00(MCX Rs 20861)
RESISTENCE # 1............................$ 1415.00(MCX Rs 20815)
PIVOT ............................................ $ 1408.00(MCX Rs 20749)
SUPPORT # 1................................. $ 1401.00(MCX Rs 20703)
SUPPORT # 2................................. $ 1393.00(MCX Rs 20631)
RECOMMENDATION : KEEP CLOSE EYE ON US JOBLESS CLAIM TODAY AT 7.00PM
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
" Bullion outlook for the year 2011"
"How to invest in bullion for 2011?"
We are going to publish above articals before 10 Jan 2011 for subscriber's only.
Comex gold future price higher continously third day
in a row traded up $ 8.00 at 1413.60 an ounce drive by
weakness of US dollar. On Tuesday, the Conference Board
reported a drop in December consumer confidence
to 52.5, from 54.3 in November which left the dollar index
under pressure.
Today at 1330 GMT(7.00PM) will offer traders the next clue on
the health of the U.S. labor market when weekly jobless
claims are due for release. The previous week's
data came in at 420,000
The jumps in commodities prices are due to worries
about inflation as the Federal Reserve and other major
central banks around the world are effectively printing
money and increasing the money supply, which reduces
the value of the currency apart from this a physical demand
for precious metal stayed strong majorly from Asian sector.
Technically the Gold future remain in bullish pattern all trends are
up, market upside objective a retest 7 Dec high 1432.5 headed
towards $ 1450
The downside should be limited because of weakness in
US dollar index continue support the yellow metals/. Near short
term support at $ 1405 with a additional support $ 1397.
MY COUNTS FOR 30 DEC FOR FEB GOLD
RESISTENCE # 2............................$ 1422.00(MCX Rs 20861)
RESISTENCE # 1............................$ 1415.00(MCX Rs 20815)
PIVOT ............................................ $ 1408.00(MCX Rs 20749)
SUPPORT # 1................................. $ 1401.00(MCX Rs 20703)
SUPPORT # 2................................. $ 1393.00(MCX Rs 20631)
RECOMMENDATION : KEEP CLOSE EYE ON US JOBLESS CLAIM TODAY AT 7.00PM
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
DAILY GOLD TREND FOR 29 DEC 2010
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Comex gold future price higher Tuesday, supported by
week US dollar, pre-option expeiration activity. Feb Comex gold last
traded $ 1405.50 up $ 22.60 an ounce.
Option experation related activity at the Comex may has contributed to
Tuesday gains in Feb Gold, aimd the thin liquidity enviroment.
Also on Tuesday, US Treasure traders were disappointed by a weak 5-year
note auction and a negative Home sales data push yellow mettals upward.
The Treasury continues its auction on Wednesday with the sale of 7-year
notes.
Technically, Feb Gold are closing near first resistance at $ 1408..00. If the market
can conquer that resistance , it would open the door for a retest of Dec high
$ 1432.50 but I am not surprised to see a year end profit-taking later this week.
MY COUNTS FOR 29 DEC FOR FEB GOLD
RESISTENCE # 2................................ $ 1420.00(MCX Rs 20851)
RESISTENCE # 1................................ $ 1409.00(MCX Rs 20782)
PIVOT ................................................ $ 1398.00(MCX Rs 20651)
SUPPORT #1...................................... $ 1389.00(MCX Rs 20584)
SUPPORT #2...................................... $ 1378.00(MCX Rs 20451)
RECOMMENDATION : BUY SUGGEST ONLY & ONLY ABOVE @ 20735
WITH STRICTLY STOP LOSS
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
Comex gold future price higher Tuesday, supported by
week US dollar, pre-option expeiration activity. Feb Comex gold last
traded $ 1405.50 up $ 22.60 an ounce.
Option experation related activity at the Comex may has contributed to
Tuesday gains in Feb Gold, aimd the thin liquidity enviroment.
Also on Tuesday, US Treasure traders were disappointed by a weak 5-year
note auction and a negative Home sales data push yellow mettals upward.
The Treasury continues its auction on Wednesday with the sale of 7-year
notes.
Technically, Feb Gold are closing near first resistance at $ 1408..00. If the market
can conquer that resistance , it would open the door for a retest of Dec high
$ 1432.50 but I am not surprised to see a year end profit-taking later this week.
MY COUNTS FOR 29 DEC FOR FEB GOLD
RESISTENCE # 2................................ $ 1420.00(MCX Rs 20851)
RESISTENCE # 1................................ $ 1409.00(MCX Rs 20782)
PIVOT ................................................ $ 1398.00(MCX Rs 20651)
SUPPORT #1...................................... $ 1389.00(MCX Rs 20584)
SUPPORT #2...................................... $ 1378.00(MCX Rs 20451)
RECOMMENDATION : BUY SUGGEST ONLY & ONLY ABOVE @ 20735
WITH STRICTLY STOP LOSS
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
DAILY GOLD TREND FOR 28 DEC 2010
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Comex Gold Future price were trading modestly higher Monday afteroon
as the market posts a consolidative light volume holiday session. Feb Comex
Gold last traded at $ 1382.5 an ounce up $ 2.00.The US dollar index weakend
slightly Monday, which let support to the gold market.
Several global markets including London, Australia and Hong Kong were
closed Monday in observance of the Christmas holiday. There was no London
gold fix on Monday. The UK will remain closed for trading on Tuesday as well.
While gold action could remain muted over the next several days as traders
remain absent from their desks due to the holidays, many analysts remain
bullish on the prospects ahead for the yellow metal.
Despite the second hike in two months form Bank of China bargain hunters
buying support the Gold market as investors showed strong
buying interest after the Christmas Day rate hike from the Asian sector.
MY COUNTS FOR 28 DEC FOR FEB GOLD
RESISTANCE # 2................$1396.00(MCX Rs 20590)
RESISTANCE # 1................$1389.50(MCX Rs 20548)
PIVOT..................................$1380.50(MCX Rs 20510)
SUPPORT # 1......................$1374.00(MCX Rs 20470)
SUPPORT # 2......................$1365.00(MCX Rs 20430)
RECOMMENDATIO : BUY ABOVE @ 20550
RAHUL KUMAR
GOLD Aalysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
Services Just Rs 1800/- Subscribe now
Comex Gold Future price were trading modestly higher Monday afteroon
as the market posts a consolidative light volume holiday session. Feb Comex
Gold last traded at $ 1382.5 an ounce up $ 2.00.The US dollar index weakend
slightly Monday, which let support to the gold market.
Several global markets including London, Australia and Hong Kong were
closed Monday in observance of the Christmas holiday. There was no London
gold fix on Monday. The UK will remain closed for trading on Tuesday as well.
While gold action could remain muted over the next several days as traders
remain absent from their desks due to the holidays, many analysts remain
bullish on the prospects ahead for the yellow metal.
Despite the second hike in two months form Bank of China bargain hunters
buying support the Gold market as investors showed strong
buying interest after the Christmas Day rate hike from the Asian sector.
MY COUNTS FOR 28 DEC FOR FEB GOLD
RESISTANCE # 2................$1396.00(MCX Rs 20590)
RESISTANCE # 1................$1389.50(MCX Rs 20548)
PIVOT..................................$1380.50(MCX Rs 20510)
SUPPORT # 1......................$1374.00(MCX Rs 20470)
SUPPORT # 2......................$1365.00(MCX Rs 20430)
RECOMMENDATIO : BUY ABOVE @ 20550
RAHUL KUMAR
GOLD Aalysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
DAILY GOLD TREND FOR 27 DEC 2010
OUR EACH TRADE GUARANTEE OF 30 POINTS OF MCX GOLD FUTURE AND $3 FOR NYMEX/COMEX
On Saturday China's Central Bank raised interestr rates
for the second time in just over two months,
underscoring concerens that inflation may be enterenched and
swift actio is needed to get price pressure under control.
Spot Gold fell to one week low $ 1371.1, before recovering to $ 1381
"Earlier speculators were selling on China's rate hike news, but a lot of
buying has since emerged as speculators are buying on dip," said a
Tokyo-based dealer.
Spot gold is technically neutral as it is range bound between
$ 1370 and $ 1400 but bias seems to be with bulls
The tendency of the market is to strengthen not to fall as many believe
it would. The fundamentlas have not changed, with demand coming
from the east in the main as the west focuses on other things.
When the holidays are finished and business is back to normal,
the Gold price to show more vigor.
The gold price is strengthening in the falling euro and is attacking
peak levels. I expect to see this continue o this pre-holiday quiet
day in New York.
MY COUNTS FOR 27 DEC FOR FEB GOLD
RESISTANCE # 2.......................$1397.00(MCX Rs 20580)
RESISTANCE # 1.......................$1388.00(MCX Rs 20536)
PIVOT ......................................$1379.00(MCX Rs 20453)
SUPPORT # 1.............................$1370.00(MCX Rs 20390)
SUPPORT # 2.............................$1361.00(MCX Rs 20335)
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
On Saturday China's Central Bank raised interestr rates
for the second time in just over two months,
underscoring concerens that inflation may be enterenched and
swift actio is needed to get price pressure under control.
Spot Gold fell to one week low $ 1371.1, before recovering to $ 1381
"Earlier speculators were selling on China's rate hike news, but a lot of
buying has since emerged as speculators are buying on dip," said a
Tokyo-based dealer.
Spot gold is technically neutral as it is range bound between
$ 1370 and $ 1400 but bias seems to be with bulls
The tendency of the market is to strengthen not to fall as many believe
it would. The fundamentlas have not changed, with demand coming
from the east in the main as the west focuses on other things.
When the holidays are finished and business is back to normal,
the Gold price to show more vigor.
The gold price is strengthening in the falling euro and is attacking
peak levels. I expect to see this continue o this pre-holiday quiet
day in New York.
MY COUNTS FOR 27 DEC FOR FEB GOLD
RESISTANCE # 2.......................$1397.00(MCX Rs 20580)
RESISTANCE # 1.......................$1388.00(MCX Rs 20536)
PIVOT ......................................$1379.00(MCX Rs 20453)
SUPPORT # 1.............................$1370.00(MCX Rs 20390)
SUPPORT # 2.............................$1361.00(MCX Rs 20335)
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
MARKET HOURS DURING HOLIDAY
OUR EACH TRADE GAURANTEE OF 30 POINTS OF MCX GOLD FUTURE AND $3 IN NYMEX/COMEX TILL 31 DEC SUBSCRIBITION CHARGE(MCX) Rs 1800/ FOR FIRST MONTH
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HAPPY CHRISTMAS AND NEW YEAR
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HAPPY CHRISTMAS AND NEW YEAR
Christmas
| Instrument | Thursday 23rd | Friday 24th | Sunday 26th | Monday 27th | Tuesday 28th |
|---|---|---|---|---|---|
| All currencies | normal | close at 16:30 | open at 23:00 | normal | normal |
| Oil | close at 22:00 | closed | open at 23:00 | normal | normal |
| Gold/Silver | close at 21:45 | closed | open at 23:00 | normal | normal |
| DJ30/NSDQ100/SPX500 | close at 21:00 | closed | open at 23:00 | normal | normal |
| UK100 | normal | close at 12:45 | closed | closed | closed |
| FRA40 | normal | close at 12:45 | closed | normal | normal |
| GER30 | normal | closed | closed | closed | closed |
New Year
| Instrument | Friday 31st | Sunday 2nd | Monday 3rd | Tuesday 4th |
|---|---|---|---|---|
| All currencies | close at 16:30 | open at 23:00 | normal | normal |
| Oil | close at 16:30 | open at 23:00 | normal | normal |
| Gold/Silver | close at 16:30 | open at 23:00 | normal | normal |
| DJ30/NSDQ100/SPX500 | close at 16:30 | open at 23:00 | normal | normal |
| UK100 | close at 12:45 | closed | closed | normal |
| FRA40 | close at 12:45 | closed | normal | normal |
| GER30 | closed | closed | closed | closed |
All hours are GMT
Trading hours are subject to change.DAILY GOLD TREND FOR 23 DEC 2010
OUR EACH TRADE GAURANTEE OF 30 POINTS OF MCX GOLD FUTURE
AND $3 FOR NYMEX/COMEX Subscribe now
Yesterday a statement from
the I.M.F. that they had completed their
sales of gold, all 403.3 tonnes of it.
Today they made the announcement to this effect.
TheU.S. took the gold
price down close to $1,380, turned andAsia
The p.m. gold Fix was $1,387.00.
Asia and London have a far more positive
outlook on the gold price, as we see in the
morning Fixes compared to the p.m. Fixes.
That’s because demand is continuing to rise
inEurope and the east.
Buying interest in gold was limited Wednesday
by a steady USD index. The dollar saw some
selling pressure arise on reports
that China was considering buying a big chunk
of Portugal's sovereign debt. However, the greenback
was supported on a stronger than
expected existing home sales report.
Gold remains in consolidation mode with a stronger bias today.
MARKET HOLIDAY SCHEDULE
CME/NYMEX/COMEX LONDAN FIX LME
PM AM
DEC 24 CLOSED YES NO CLOSED
DEC 25 REGULAR CLOSE REGUALR CLOSE REGULAR CLOSE
DEC 26 " " "
DEC 27 " NO NO "
DEC 28 CLOSED NO NO CLOSED
DEC 31 REGULAR CLOSE YES NO REGUALR CLOSED
JAN 03 CLOSED NO NO CLOSE
MY COUNTS FOR 23 DEC FOR FEB GOLD
RESISTANCE # 2...................$1393.00(MCX Rs 20618)
RESISTANCE # 1...................$1390.00(MCX Rs 20565)
PIVOT.................................$1387.00(MCX Rs 20538)
SUPPORT # 1.......................$1383.00(MCX Rs 20486)
SUPPORT # 2.......................$1381.00(MCX Rs 20458)
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
AND $3 FOR NYMEX/COMEX Subscribe now
Yesterday a statement from
the I.M.F. that they had completed their
sales of gold, all 403.3 tonnes of it.
Today they made the announcement to this effect.
The
price down close to $1,380, turned and
The p.m. gold Fix was $1,387.00.
Asia and London have a far more positive
outlook on the gold price, as we see in the
morning Fixes compared to the p.m. Fixes.
That’s because demand is continuing to rise
in
Buying interest in gold was limited Wednesday
by a steady USD index. The dollar saw some
selling pressure arise on reports
that China was considering buying a big chunk
of Portugal's sovereign debt. However, the greenback
was supported on a stronger than
expected existing home sales report.
Gold remains in consolidation mode with a stronger bias today.
MARKET HOLIDAY SCHEDULE
CME/NYMEX/COMEX LONDAN FIX LME
PM AM
DEC 24 CLOSED YES NO CLOSED
DEC 25 REGULAR CLOSE REGUALR CLOSE REGULAR CLOSE
DEC 26 " " "
DEC 27 " NO NO "
DEC 28 CLOSED NO NO CLOSED
DEC 31 REGULAR CLOSE YES NO REGUALR CLOSED
JAN 03 CLOSED NO NO CLOSE
MY COUNTS FOR 23 DEC FOR FEB GOLD
RESISTANCE # 2...................$1393.00(MCX Rs 20618)
RESISTANCE # 1...................$1390.00(MCX Rs 20565)
PIVOT.................................$1387.00(MCX Rs 20538)
SUPPORT # 1.......................$1383.00(MCX Rs 20486)
SUPPORT # 2.......................$1381.00(MCX Rs 20458)
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
DAILY GOLD TREND FOR 22 DEC 2010
OUR EACH TRADE GAURANTEE OF 30 POINTS IN MCX GOLD FUTURE AND $ 3 IN NYMEX/COMEX Subscribe now : TRADETOPROFIT
Comex gold futures prices ended modestly higher
Tuesday in quieter, pre-holiday trading. Fresh
worries regarding the European Union's debt crisis
prompted more safe-haven buying interest in gold. February
Comex gold last traded up $2.30 at $1,388.40 an ounce.
European Union debt worries have continued
to resurface in the market place. Overnight, it
was reported that Moody's said it may downgrade
Portugal's debt rating. Last week, Moody's downgraded
Ireland's debt and placed Spain's debt on the watch list.
The latest EU debt concerns have put the Euro currency
under selling pressure, which is somewhat bullish for
the gold market, but is also bullish for the U.S. dollar.
The North Korea-South Korea military tensions
have eased a bit. North Korea last weekend threatened
another military attack if South Korea conducted fresh
military exercises. It was reported the South Korea did
conduct some military exercises Monday, with no incident.
The Koreas' military stare-down will continue to support
some safe-haven investment demand for gold.
Investment demand gold and silver remains constructive,
say analysts with Barclays Capital. They described holdings
in exchange-traded products as stable at the start of a new
week, with gold ETP holdings rising a modest 0.2 metric
tons to surpass Friday’s record at 2,155 tons. Meanwhile,
Barclays describes U.S. Mint gold coin sales as “robust”
so far in December and silver coin sales as
“exceptionally strong.” Silver coin sales have already
hit 1.747 million ounces in December and for the year are
nearly to 35 million, surpassing last year’s full-year sales
total of 28.8 million, Barclays says in a research note.
“In our view, barring profit-taking in the near term, investment
demand for gold and silver is set to remain healthy
in 2011 and is set to drive gold prices to new highs,” Barclays concludes.
But I am nort surprise to see gold at new high in December, If gold
close above $ 1400 because technicelly gold looking in bullish
trend.
MY COUNTS FOR 22 DEC FOR FEB GOLD
RESISTANCE # 2...................$1400.00(MCX Rs 20650)
RESISTANCE # 1...................$1394.00(MCX Rs 20610)
PIVOT.....................................$1387.00(MCX Rs 20560)
SUPPORT # 1.........................$1381.00(MCX Rs 20521)
SUPPORT # 2.........................$1374.00(MCX Rs 20461)
RECOMMENDATION : KEEP BUYING WITH TIGHT STOL LOSS BELOW YESTERDAY LOW
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Comex gold futures prices ended modestly higher
Tuesday in quieter, pre-holiday trading. Fresh
worries regarding the European Union's debt crisis
prompted more safe-haven buying interest in gold. February
Comex gold last traded up $2.30 at $1,388.40 an ounce.
European Union debt worries have continued
to resurface in the market place. Overnight, it
was reported that Moody's said it may downgrade
Portugal's debt rating. Last week, Moody's downgraded
Ireland's debt and placed Spain's debt on the watch list.
The latest EU debt concerns have put the Euro currency
under selling pressure, which is somewhat bullish for
the gold market, but is also bullish for the U.S. dollar.
The North Korea-South Korea military tensions
have eased a bit. North Korea last weekend threatened
another military attack if South Korea conducted fresh
military exercises. It was reported the South Korea did
conduct some military exercises Monday, with no incident.
The Koreas' military stare-down will continue to support
some safe-haven investment demand for gold.
Investment demand gold and silver remains constructive,
say analysts with Barclays Capital. They described holdings
in exchange-traded products as stable at the start of a new
week, with gold ETP holdings rising a modest 0.2 metric
tons to surpass Friday’s record at 2,155 tons. Meanwhile,
Barclays describes U.S. Mint gold coin sales as “robust”
so far in December and silver coin sales as
“exceptionally strong.” Silver coin sales have already
hit 1.747 million ounces in December and for the year are
nearly to 35 million, surpassing last year’s full-year sales
total of 28.8 million, Barclays says in a research note.
“In our view, barring profit-taking in the near term, investment
demand for gold and silver is set to remain healthy
in 2011 and is set to drive gold prices to new highs,” Barclays concludes.
But I am nort surprise to see gold at new high in December, If gold
close above $ 1400 because technicelly gold looking in bullish
trend.
MY COUNTS FOR 22 DEC FOR FEB GOLD
RESISTANCE # 2...................$1400.00(MCX Rs 20650)
RESISTANCE # 1...................$1394.00(MCX Rs 20610)
PIVOT.....................................$1387.00(MCX Rs 20560)
SUPPORT # 1.........................$1381.00(MCX Rs 20521)
SUPPORT # 2.........................$1374.00(MCX Rs 20461)
RECOMMENDATION : KEEP BUYING WITH TIGHT STOL LOSS BELOW YESTERDAY LOW
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
DAILY GOLD TREND FOR 21 DEC 2010
Comex gold futures prices ended modestly higher Monday
on some fresh safe-haven investor buying demand. Concern
regarding North Korea and South Korea saber-rattling and
about the European Union's debt crisis are supporting some
fresh buying interest in the precious metals markets. February
Comex gold last traded up $7.00 at $1,386.20 an ounce.
Spot gold last traded up $10.20 at $1,386.25.
The U.S. dollar index traded firmer Monday, also seeing some
safe-haven buying interest from the EU and Koreas' developments.
The dollar index bulls have regained some upside technical momentum.
U.S. Treasury yields are at or near six-month highs, which is
supporting the greenback and pulling some investment
demand away from the precious metals.
Moody's spread even more Christmas cheer on Monday by
downgrading five Irish banks -- Allied Irish Banks, Bank of
Ireland, EBS Building Society, Irish Life & Permanent
and Irish Nationwide Building Society -- because of their
reliance on government funding.
"Further pockets of profit-taking ... are likely in the run-up to
year-end but as has been seen this morning the mix of
economic and geo-political woes will continue to underpin
the complex," says James Moore, research analyst at
fastmarkets.com.
Barclays Capital said the liquidation wasn’t surprising as
profit-taking emerges during the year-end. During the timeframe,
holdings in exchanged-traded funds were generally flat,
rather than seeing hefty outflows like the futures and
options markets did. The CFTC data shows net fund length in
Comex gold is at a one-month low, the bank said. Similar
activity was seen for silver and platinum markets, Barclays said
Because Christmas Holiday's volume is half of the normal trading days
MY COUNTS FOR 21 DEC FPR FEB GOLD
RESISTANCE # 2...................$1397.00(MCX Rs 20705)
RESISTANCE # 1...................$1392.00(MCX Rs 20657)
PIVOT.....................................$1383.00(MCX Rs 20596)
SUPPORT # 1.........................$1378.00(MCX Rs 20552)
SUPPORT # 2.........................$1369.00(MCX Rs 20490)
RECOMMENDATION : TRADE BETWEEN SUPPORT AND RESISTENCE LEVEL
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
on some fresh safe-haven investor buying demand. Concern
regarding North Korea and South Korea saber-rattling and
about the European Union's debt crisis are supporting some
fresh buying interest in the precious metals markets. February
Comex gold last traded up $7.00 at $1,386.20 an ounce.
Spot gold last traded up $10.20 at $1,386.25.
The U.S. dollar index traded firmer Monday, also seeing some
safe-haven buying interest from the EU and Koreas' developments.
The dollar index bulls have regained some upside technical momentum.
U.S. Treasury yields are at or near six-month highs, which is
supporting the greenback and pulling some investment
demand away from the precious metals.
Moody's spread even more Christmas cheer on Monday by
downgrading five Irish banks -- Allied Irish Banks, Bank of
Ireland, EBS Building Society, Irish Life & Permanent
and Irish Nationwide Building Society -- because of their
reliance on government funding.
"Further pockets of profit-taking ... are likely in the run-up to
year-end but as has been seen this morning the mix of
economic and geo-political woes will continue to underpin
the complex," says James Moore, research analyst at
fastmarkets.com.
Barclays Capital said the liquidation wasn’t surprising as
profit-taking emerges during the year-end. During the timeframe,
holdings in exchanged-traded funds were generally flat,
rather than seeing hefty outflows like the futures and
options markets did. The CFTC data shows net fund length in
Comex gold is at a one-month low, the bank said. Similar
activity was seen for silver and platinum markets, Barclays said
Because Christmas Holiday's volume is half of the normal trading days
MY COUNTS FOR 21 DEC FPR FEB GOLD
RESISTANCE # 2...................$1397.00(MCX Rs 20705)
RESISTANCE # 1...................$1392.00(MCX Rs 20657)
PIVOT.....................................$1383.00(MCX Rs 20596)
SUPPORT # 1.........................$1378.00(MCX Rs 20552)
SUPPORT # 2.........................$1369.00(MCX Rs 20490)
RECOMMENDATION : TRADE BETWEEN SUPPORT AND RESISTENCE LEVEL
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
DAILY GOLD TREND FOR 20 DEC 2010
In spite of the fact that Friday was a triple witching day
it held out extremely well over the whole week.
I can remember some expiration weeks when gold and
silver were beaten down over the whole period.
That kind of tendencies was to be seen but partially
these days; the intraday rebounds from the day lows
on Thursday and Friday were pretty convincing.
Considering the drop in prices from the all-time high of
12/07/2010 until the Thursday low the correction by
a five percent doesn’t go beyond the scope of the
ordinary anyway, but it rather seems to be a
normal correction so far.
But we’ll have to consider the seasonality as well, and a glance
to last year, to 2009…. The last all-time high in 2009 was
marked on 12/03, you see. Then a correction through 02/05/2010
followed. Gold fell from 1227 to the February lows (1044).
That was about a 15%. Well, the price course of last week
has clouded the picture of that correction a little more:
The first two days of next week should give us the information
whether gold will be able to leave the negative influence of
the 3rd double bottem. The 1350 will be reached rapidly if on Monday
or Tuesday the support breaks. In that case it would be
obvious that the bearish influence of the 3rd double
bottem will reach until the last trading day in 2010.
It’s furthermore apparent that at best we may rather expect a
classical sideways move for the coming weeks without
being any new highs to be seen any more. The buy targets
thrown up by the setup are 1402 and 1422, less than the 1432.50.
On Friday gold escaped into the 1368 but marking a fake low 1361.
Still the lower limit is resisting, but the fake low enables gold to
test again this, to break through it downwards definitely.
If the Thursday low breaks on Monday/Tuesday the first
sell target will be the 1350. I belive gold should run up on
account of the fake low (an 80% of probability).
Note : It’s important for your trading to consider gold and
silver always parallel, silver being the clock, but new highs in
silver don’t mean automatically new highs in gold as well.
But a weaker silver performance should result in
more weakness in gold. Daily long engagements continue
not being advisable, a long term correction on daily basis is too likely.
MY COUNTS FOR 20 DEC FOR FEB GOLD
RESISTENCE # 2 ..................... $ 1391.50(MCX Rs 20646)
RESISTENCE # 1...................... $ 1385.00(MCX Rs 20582)
PIVOT ....................................... $ 1373.00(MCX Rs 20486)
SUPPORT # 1............................ $ 1368.00(MCX Rs 20422)
SUPPORT # 2.............................$ 1359.00(MCX Rs 20326)
RECOMMENDATION : CONSIDER TO SELL AT HIGHER LEVEL
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
it held out extremely well over the whole week.
I can remember some expiration weeks when gold and
silver were beaten down over the whole period.
That kind of tendencies was to be seen but partially
these days; the intraday rebounds from the day lows
on Thursday and Friday were pretty convincing.
Considering the drop in prices from the all-time high of
12/07/2010 until the Thursday low the correction by
a five percent doesn’t go beyond the scope of the
ordinary anyway, but it rather seems to be a
normal correction so far.
But we’ll have to consider the seasonality as well, and a glance
to last year, to 2009…. The last all-time high in 2009 was
marked on 12/03, you see. Then a correction through 02/05/2010
followed. Gold fell from 1227 to the February lows (1044).
That was about a 15%. Well, the price course of last week
has clouded the picture of that correction a little more:
The first two days of next week should give us the information
whether gold will be able to leave the negative influence of
the 3rd double bottem. The 1350 will be reached rapidly if on Monday
or Tuesday the support breaks. In that case it would be
obvious that the bearish influence of the 3rd double
bottem will reach until the last trading day in 2010.
It’s furthermore apparent that at best we may rather expect a
classical sideways move for the coming weeks without
being any new highs to be seen any more. The buy targets
thrown up by the setup are 1402 and 1422, less than the 1432.50.
On Friday gold escaped into the 1368 but marking a fake low 1361.
Still the lower limit is resisting, but the fake low enables gold to
test again this, to break through it downwards definitely.
If the Thursday low breaks on Monday/Tuesday the first
sell target will be the 1350. I belive gold should run up on
account of the fake low (an 80% of probability).
Note : It’s important for your trading to consider gold and
silver always parallel, silver being the clock, but new highs in
silver don’t mean automatically new highs in gold as well.
But a weaker silver performance should result in
more weakness in gold. Daily long engagements continue
not being advisable, a long term correction on daily basis is too likely.
MY COUNTS FOR 20 DEC FOR FEB GOLD
RESISTENCE # 2 ..................... $ 1391.50(MCX Rs 20646)
RESISTENCE # 1...................... $ 1385.00(MCX Rs 20582)
PIVOT ....................................... $ 1373.00(MCX Rs 20486)
SUPPORT # 1............................ $ 1368.00(MCX Rs 20422)
SUPPORT # 2.............................$ 1359.00(MCX Rs 20326)
RECOMMENDATION : CONSIDER TO SELL AT HIGHER LEVEL
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
DAILY GOLD TREND FOR 017 DEC 2010
Gold futures extended their losses to a second day Thursday,
a setback chalked up to year-end profit-taking,
a higher dollar and some uneasiness about proposed
position limits from the U.S. commodities regulator.
“With the end of the year coming up, individual and institutional
investors are attempting to book profits and take advantage
of another great year for gold,” said David Beahm,
vice president at Blanchard & Co., in New Orleans.
But a climb in the U.S. dollar for part of the session,
coupled with worries about newly proposed commodity-position
limits, also may have given some investors an excuse to sell.
“The other thing hurting gold is the strength of the dollar.
There’s still a lot of concern about Europe,” said Frank Lesh,
broker and futures analyst with Futurepath Trading in Chicago.
On Thursday, the Commodity Futures Trading Commission
proposed restricting the number of commodity futures and
option contracts that any investor can hold in energy, agriculture
or metals derivatives. Read more on CFTC’s
"Overall, economic uncertainties are gold-positive with the
currency markets still jittery while fiat currency yields are set to
remain low for a prolonged period of time," said
VTB Capital analyst Andrey Kryuchenkov.
"Safe haven buying will limit the downside on gold in the short run."
While gold typically moves in the same direction as the euro
in the short term, jitters over the stability of the euro zone
have helped lift the metal this year.
Holdings of the world's largest gold-backed
exchange-traded fund, New York's SPDR Gold Trust,
eased by another 0.6 tones on Wednesday, bringing their
total outflows in December to date to 0.4 tones versus inflows
of just over 7 tones in the same period of 2009
I belive that a close above $ 1382 before this week
give a positive direction to gold.
MY COUNTS FOR 17/12 FOR FEB GOLD
RESISTENCE # 2 ........................... $ 1398.50(MCX Rs 20734)
RESISTENCE # 1............................ $ 1384.00(MCX Rs 20602)
PIVOT ............................................ $ 1372.50(MCX Rs 20496)
SUPPORT # 1................................. $ 1359.00(MCX Rs 20364)
SUPPORT # 2................................. $ 1349.00(MCX Rs 20238)
RECOMMENDATION : KEEP BUY ABOVE $ 1375 OR 20510 FOR INTRADAY ONLY
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
a setback chalked up to year-end profit-taking,
a higher dollar and some uneasiness about proposed
position limits from the U.S. commodities regulator.
“With the end of the year coming up, individual and institutional
investors are attempting to book profits and take advantage
of another great year for gold,” said David Beahm,
vice president at Blanchard & Co., in New Orleans.
But a climb in the U.S. dollar for part of the session,
coupled with worries about newly proposed commodity-position
limits, also may have given some investors an excuse to sell.
“The other thing hurting gold is the strength of the dollar.
There’s still a lot of concern about Europe,” said Frank Lesh,
broker and futures analyst with Futurepath Trading in Chicago.
On Thursday, the Commodity Futures Trading Commission
proposed restricting the number of commodity futures and
option contracts that any investor can hold in energy, agriculture
or metals derivatives. Read more on CFTC’s
"Overall, economic uncertainties are gold-positive with the
currency markets still jittery while fiat currency yields are set to
remain low for a prolonged period of time," said
VTB Capital analyst Andrey Kryuchenkov.
"Safe haven buying will limit the downside on gold in the short run."
While gold typically moves in the same direction as the euro
in the short term, jitters over the stability of the euro zone
have helped lift the metal this year.
Holdings of the world's largest gold-backed
exchange-traded fund, New York's SPDR Gold Trust,
eased by another 0.6 tones on Wednesday, bringing their
total outflows in December to date to 0.4 tones versus inflows
of just over 7 tones in the same period of 2009
I belive that a close above $ 1382 before this week
give a positive direction to gold.
MY COUNTS FOR 17/12 FOR FEB GOLD
RESISTENCE # 2 ........................... $ 1398.50(MCX Rs 20734)
RESISTENCE # 1............................ $ 1384.00(MCX Rs 20602)
PIVOT ............................................ $ 1372.50(MCX Rs 20496)
SUPPORT # 1................................. $ 1359.00(MCX Rs 20364)
SUPPORT # 2................................. $ 1349.00(MCX Rs 20238)
RECOMMENDATION : KEEP BUY ABOVE $ 1375 OR 20510 FOR INTRADAY ONLY
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
DAILY GOLD TREND FOR 16 DEC 2010
Gold futures fell Wednesday, pressured by data showing
low U.S. inflation and by a jump in the dollar after
stronger manufacturing reports and rising bond
yields made the currency more attractive.
Price action in both gold and silver is indicative of the
beginnings of holiday trade as players begin squaring
books ahead of the year’s end and move to the sidelines
in anticipation of taking some time off. Potential exists for
some rather strange moves in price. Try not to read too
much into it as both longs and shorts exit the market only
to return at the start of the New Year’s first full trading week..
"There wasn't aggressive safe-haven buying to push
the market up. It's the end of the year and many books
are closed. People have had huge profits for the year
and they decided to book them now," said COMEX gold
options floor trader Jonathan Jossen
Technically, gold needs two consecutive closes above $1400 to
kick it up towards $1420. Downside support exists near the
$1375 level with bears hoping to break it down below there
and push it towards $1355 or so. Look for dip buyers to
be active should that occur.
MY COUNTS FOR 16/12 FOR FEB GOLD
RESISTENCE #2.......................... $ 1404.00(MCX Rs 20770)
RESISTENCE #1.......................... $ 1395.00(MCX Rs 20704)
PIVOT ......................................... $ 1389.00(MCX Rs 20647)
SUPPORT # 1.............................. $ 1380.00(MCX Rs 20574)
SUPPORT # 2.............................. $ 1374.00(MCX Rs 20517)
RECOMMENDATION : FIND A SUPPORT LEVEL TO BUY NEAR SUPPORT #2
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
low U.S. inflation and by a jump in the dollar after
stronger manufacturing reports and rising bond
yields made the currency more attractive.
Price action in both gold and silver is indicative of the
beginnings of holiday trade as players begin squaring
books ahead of the year’s end and move to the sidelines
in anticipation of taking some time off. Potential exists for
some rather strange moves in price. Try not to read too
much into it as both longs and shorts exit the market only
to return at the start of the New Year’s first full trading week..
"There wasn't aggressive safe-haven buying to push
the market up. It's the end of the year and many books
are closed. People have had huge profits for the year
and they decided to book them now," said COMEX gold
options floor trader Jonathan Jossen
Technically, gold needs two consecutive closes above $1400 to
kick it up towards $1420. Downside support exists near the
$1375 level with bears hoping to break it down below there
and push it towards $1355 or so. Look for dip buyers to
be active should that occur.
MY COUNTS FOR 16/12 FOR FEB GOLD
RESISTENCE #2.......................... $ 1404.00(MCX Rs 20770)
RESISTENCE #1.......................... $ 1395.00(MCX Rs 20704)
PIVOT ......................................... $ 1389.00(MCX Rs 20647)
SUPPORT # 1.............................. $ 1380.00(MCX Rs 20574)
SUPPORT # 2.............................. $ 1374.00(MCX Rs 20517)
RECOMMENDATION : FIND A SUPPORT LEVEL TO BUY NEAR SUPPORT #2
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
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DAILY GOLD TREND FOR 15 DEC 2010
As the Fed decided to keep the Fed Fund Rate unchanged today
Fundamentally, I believe COMEX GOLD FUTURES will continue
to make all time record highs for 3 reasons:
1. Sovereign debt issues
2. China increasing their gold reserves
3. Inflationary fears
Technically, COMEX GOLD FUTURES are moving back
into a SUPER TREND higher as the market trades back
above the 9 day MOVING AVERAGE as the 9 MA is above t
he 20 day MOVING AVERAGE
But the most of traders taking quick profit above $ 1400 level.
As we move toward the Holiday season and end of the year some more
profit taking seen at higher level
MY COUNTS FOR 15/12 FOR FEB GOLD
RESISTANCE # 2........$1415.00(MCX Rs 20800)
RESISTANCE # 1........$1405.00(MCX Rs 20730)
PIVOT..........................$1398.00(MCX Rs 20657)
SUPPORT # 1..............$1391.00(MCX Rs 20585)
SUPPORT # 2..............$1382.00(MCX Rs 20510)
RECOMMENDATION : TRADE BETWEEN SUPPORT AND RESISTENCE LEVEL
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
Fundamentally, I believe COMEX GOLD FUTURES will continue
to make all time record highs for 3 reasons:
1. Sovereign debt issues
2. China increasing their gold reserves
3. Inflationary fears
Technically, COMEX GOLD FUTURES are moving back
into a SUPER TREND higher as the market trades back
above the 9 day MOVING AVERAGE as the 9 MA is above t
he 20 day MOVING AVERAGE
But the most of traders taking quick profit above $ 1400 level.
As we move toward the Holiday season and end of the year some more
profit taking seen at higher level
MY COUNTS FOR 15/12 FOR FEB GOLD
RESISTANCE # 2........$1415.00(MCX Rs 20800)
RESISTANCE # 1........$1405.00(MCX Rs 20730)
PIVOT..........................$1398.00(MCX Rs 20657)
SUPPORT # 1..............$1391.00(MCX Rs 20585)
SUPPORT # 2..............$1382.00(MCX Rs 20510)
RECOMMENDATION : TRADE BETWEEN SUPPORT AND RESISTENCE LEVEL
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
GOLD TREND FOR 14 DEC 2010
Technically, February Comex gold futures bulls have the
overall near-term technical advantage and regained some
fresh upside momentum Monday. A potentially near-term
bearish minor pennant pattern was negated with Monday's
solid price gains. A close near session high is confirmed the
uptrend in near future.
Gold and Silver volatility subsided late in the session
as traders may be looking toward tomorrows key
economic data as well as the tuesday meeting of
the FOMC. The minutes from the Fed meeting are
always worth keeping an eye on ...............
Gold and Silver traders will certainly be deciphering
tomorrows economic data as it will surely give the precious
metals direction.
Also supportive for gold Monday was news that Chinese officials
did not immediately raise interest rates after the Chinese
government reported during the weekend that inflationary
pressures are heating up significantly.
Tuesday 14/12 Economic Data:
FOMC MEETING
Business Inventories............07.00PM
PPI.....................................07.00PM
RETAIL SALES.................07.00PM
MY COUNTS FOR 14/12 FOR FEB GOLD
RESISTANCE # 2..................$1413.00(MCX Rs 20724)
RESISTANCE # 1..................$1406.00(MCX Rs 20652)
PIVOT....................................$1393.00(MCX Rs 20582)
SUPPORT # 1........................$1387.00(MCX Rs 20525)
SUPPORT # 2........................$1373.00(MCX Rs 20450)
RECOMMENDATION : BUY GOLD NEAR 20600-20630 AND KEEP LONG
ALSO KEEP CLOSE EYE ON TODAY REPORTS AND FOMC MEETING
RAHUL KUMAR
GOLD Analysist
Commendts me : bestech30@gmail.com
To get exact level for MCX/COMEX gold future
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DAILY GOLD TREND FOR 13 DEC 2010
As I expect The precious metals tumbled early after reports that
The Central Bank of China did indeed raise the banks' reserve
.50 basis points on 10th Dec.
The rule of thumb is whenever a Central bank raises rates
GOLD and SILVER will tumble (at least temporarily) and when
Central banks LOWER rates GOLD and SILVER will rally.
However, a late session rally brought Gold from the $1372.70 levelGOLD and SILVER will tumble (at least temporarily) and when
Central banks LOWER rates GOLD and SILVER will rally.
back to close at $1384.90....Which may indicate some "bargain
hunting buying".
But you always remember one thing that,during inflationary times
gold and silver historically retain value better than most commodities...
China raises rates and pushes the metals lower.... This also gives
an opportunity to buy Gold and Silver at lower prices.
On last Thursday France and Germany have joined forces
in refusing to add to 4440 Billion Euro rescue fund....putting an
added strain on already high tension atmosphere.
European union leaders are due to summit next week.
The X leave is comming soon and gold still trade belwo $ 1400
so be cautious with the long position with strict stop loss.
“The push didn’t bring in any momentum (buyers) and the volume
wasn’t there. That was a big indicator gold was not going to hold
its levels. We drifted back to where we ought to be,” said Frank
Lesh, futures analyst at FuturePath Trading.
Lesh said barring any unforeseen circumstances, he expects gold
will likely hold in a fairly narrow $50 trading range between $1,350
and $1,400 between now and the rest of 2010.
Looking at technical charts, gold has strong support at $1,375,
said Ralph Preston, senior market analyst with Heritage West
Financial. Preston also thinks that gold will need some sort of new
catalyst to push it out of its current range, something beyond what’s
in the news now.
He said it looks as if gold might be trying to
build another head-and-shoulders pattern on daily technical charts,
with the left shoulder the highs from November and the head the high
of this week. If gold trades in a sideways pattern, that could be a sign
this chart pattern is forming. “We have to let the numbers direct us,”
he said.If gold either closes below $1,375 or trades under $1,350,
it could take a trip down to $1,315, Preston said. On the upside, if gold
can close over $1,410 it could try to test the recent high. A close
over $1,426 could mean a test of $1,460. However, Preston said that
a rally is less likely because of the lack of fresh news and the fact that
it is the end of the year, which can also mean less trading volume.
The markets next week will likely focus on two items: what China
might say in regards to its monetary policy this weekend and debate
over tax levels in the U.S.
MY COUNTS FOR 13/12 FEB GOLD
RESISTANCE # 2............$1404.00(MCX Rs 20787)
RESISTANCE # 1............$1395.00(MCX Rs 20654)
PIVOT..............................$1383.00(MCX Rs 20507)
SUPPORT # 1..................$1373.00(MCX Rs 20364)
SUPPORT # 2..................$1361.00(MCX Rs 20220)
RECOMMENDATION : MARKET SHOULD BE IN SIDEWAY PATTERN
SO TRADE BETWEEN SUPPORT AND RESISTENCE LEVEL
(BUY ABOVE SUPPORT AND SELL BELOW RESISTENCE)
OR TO GET EXACT INTRADAY TRADING LEVEL CONTACT ME
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
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DAILY GOLD TREND FOR 10 DEC 2010
Yestarday was a very nervous market. Gold remain under $ 1400.
There are still concerns that China will again move to tighten its
monetary policy to dampen its domestic demand for raw commodities.
Some are thinking the Chinese government could move to
raise interest rates as soon as this weekend. That would be
at least a near-term bearish factor for all commodity markets.
However, strong demand for raw commodities will continue
to come from China even if its interest rates
are increased......said Jim
Technically, February Comex gold futures this week have
seen a significantly near-term bearish "key reversal" down
produced on the daily bar chart, which is one early clue that a near-term
market top is in place. However, solid price gains on Friday
would provide the bulls with some fresh upside near-term
technical momentum to suggest this week's selling pressure
was just a downside price correction in an overall uptrend on
the daily chart.
U.S Jobless Claims were better than projections
Data showed jobless Claims were 421,000
MY COUNTS FOR 10/12 FEB GOLD
RESISTANCE # 2............$1401.00(MCX Rs 20721)
RESISTANCE # 1............$1395.00(MCX Rs 20677)
PIVOT..............................$1388.00(MCX Rs 20589)
SUPPORT # 1..................$1380.00(MCX Rs 20538)
SUPPORT # 2..................$1375.00(MCX Rs 20451)
RECOMMENDATION : SELL ON HIGHER LEVEL WITH STRICT STOPLOSS 20735
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
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DAILY GOLD TREND FOR 09 DEC 2010
Yesterday Comex Gold ended with loss $ 26 made a low
$ 1371. Last couple of hours witness of recovery from the bottam.
The Rumors of the U.S tax extension package not having enough
votes to pass helped to extend yesterday's negative settlement.
Also the continued concern that The Peoples Bank of Chinawill once again raise interest rates has traders on edge and
eager to take profits when the opportunity presents itself.
“Gold is dominated by short-term traders at the moment,” said
Frank Lesh at FuturePath Trading LLC in Chicago.
“Big players have taken a profit after record highs, and the dollar
has stabilized, so short-term traders will sell gold and commodities.”
The decline may be an opportunity to buy, said Dennis Gartman, an
economist and the editor of the Suffolk, Virginia- based Gartman Letter.
He recommends investors purchase gold priced in euros,
U.K. pounds and yen to hedge against relative dollar strength
on an uptrend, Nedoss said. In addition to ongoing
concerns about the U.S.’ fiscal health and the extent
of Europe’s sovereign-debt crisis, there are threats
of inflation worldwide, he added.
As I beleive Gold should take support near $ 1382 If this point
sustain Gold may run towards higher to high.
ALSO KEEP CLOSE EYE US JOBLESS CLAIM REPORT TODAY AT 7.00PM
MY COUNTS FOR 09/12 FOR FEB GOLD
RESISTANCE # 2........$1410.00(MCX Rs 20857)
RESISTANCE # 1........$1399.00(MCX Rs 20707)
PIVOT .......................$1387.00(MCX Rs 20537)
SUPPORT # 1..............$1370.00(MCX Rs 20383)
SUPPORT # 2..............$1361.00(MCX Rs 20217)
MY COUNTS FOR 09/12 FOR MARCH SILVER
RESISTANCE # 2.......$29.79(MCX Rs 45067)
RESISTANCE # 1.......$29.01(MCX Rs 44104)
PIVOT ........................$28.51(MCX Rs 43437)
SUPPORT # 1.............$27.72(MCX Rs 42474)
SUPPORT # 2.............$27.23(MCX Rs 41800)
RECOMMENDATION : BUY GOLD NEAR 20550-20575 STRICTLY SL 20475
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
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DAILY GOLD TREND FOR 08 DEC 2010
I believe traders began to take profits as the unchartered territory
of new all-time high's created a nervous tension resulting in
a race to take profits.
If the China bank does raise rates
it should send both gold and silver tumbling short term.
This will possiable that, today's sell-off brings bargainn hunter
buying from the Asian sector tonight. There has certainly been a distinct
pattern of buying dips from the Asian sector.
The Fragility in the Euro region is the fuel behind the strong U.S
dollar and is also recruiting savvier investors to use their weaker Euro's
to buy both gold and Silver as a flight to "safer havens"
MY COUNTS FOR 08/12 FOR FEB GOLD
RESISTANCE # 2.......$1445.00(MCX Rs 21037)
RESISTANCE # 1.......$1427.00(MCX Rs 20849)
PIVOT.........................$1415.00(MCX Rs 20737)
SUPPORT # 1.............$1397.00(MCX Rs 20550)
SUPPORT # 2.............$1385.00(MCX Rs 20437)
MY COUNTS FOR 08/12 FOR FEB SILVER
RESISTANCE # 2.......$31.20(MCX Rs 46268)
RESISTANCE # 1.......$30.49(MCX Rs 45416
PIVOT ........................$30.03(MCX Rs 44883)
SUPPORT # 1.............$29.31(MCX Rs 44031)
SUPPORT # 2.............$28.86(MCX Rs 43548)
RECOMMENDATION : AS I BELIEVE THERE SHOULD BE BUYING COME FROM ASIAN AND EURO ZONE ON LOWER LEVEL TAKE LONG NEAR SUPPORT LEVEL
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
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If the China bank does raise rates
The Fragility in the Euro region is the fuel behind the strong U.S
MY COUNTS FOR 08/12 FOR FEB GOLD
MY COUNTS FOR 08/12 FOR FEB SILVER
RECOMMENDATION : AS I BELIEVE THERE SHOULD BE BUYING COME FROM ASIAN AND EURO ZONE ON LOWER LEVEL TAKE LONG NEAR SUPPORT LEVEL
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
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DAILY GOLD TREND FOR 07 DEC 2010
Investors zeroed in on a Sunday interview by U.S. Federal Reserve
Chairman Ben Bernanke opening up for the possibility of
committing more money beyond the $600 billion in asset purchases.
Read more about Bernanke’s interview and potential easing
“It’s unnerving that he feels we have a need to print more money
and pump more money into the system,” said Matt Zeman,
a trader at LaSalle Futures Group in Chicago.
“People continue to get away from paper money.”
The euro region has struggled all
year to "RIGHT" their financial ship as
one state after another has needed
financial assistance from the financial
ministers of the European union as well as the
IMF (International Monetary Fund).
Expect savvier investors from the Euro region to use
their weaker Euro's to buy both
physical gold and Silver in an attempt to safe
guard their wealth.
Historically Gold and Silver retain value better
than most commodities.
MY COUNTS FOR 07 / 12 FEB GOLD
RESISTANCE # 2...............$1429.00(MCX Rs 20920)
RESISTANCE # 1...............$1422.00(MCX Rs 20855)
PIVOT ..............................$1416.00(MCX Rs 20805)
SUPPORT # 1.....................$1410.00(MCX Rs 20737)
SUPPORT # 2.....................$1403.00(MCX Rs 20695)
MY COUNTS FOR 07 / 12 MAR SILVER
RESISTANCE # 2...............$30.40(MCX Rs 45340)
RESISTANCE # 1...............$30.06(MCX Rs 44985)
PIVOT ...............................$29.77(MCX Rs 44642)
SUPPORT # 1.................... $29.43(MCX Rs 44239)
SUPPORT # 2.....................$29.14(MCX Rs 43950)
RAHUL KUMAR
GOLD Analysist
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Chairman Ben Bernanke opening up for the possibility of
committing more money beyond the $600 billion in asset purchases.
Read more about Bernanke’s interview and potential easing
“It’s unnerving that he feels we have a need to print more money
and pump more money into the system,” said Matt Zeman,
a trader at LaSalle Futures Group in Chicago.
“People continue to get away from paper money.”
The euro region has struggled all
year to "RIGHT" their financial ship as
one state after another has needed
financial assistance from the financial
ministers of the European union as well as the
IMF (International Monetary Fund).
Expect savvier investors from the Euro region to use
their weaker Euro's to buy both
physical gold and Silver in an attempt to safe
guard their wealth.
Historically Gold and Silver retain value better
than most commodities.
MY COUNTS FOR 07 / 12 FEB GOLD
RESISTANCE # 2...............$1429.00(MCX Rs 20920)
RESISTANCE # 1...............$1422.00(MCX Rs 20855)
PIVOT ..............................$1416.00(MCX Rs 20805)
SUPPORT # 1.....................$1410.00(MCX Rs 20737)
SUPPORT # 2.....................$1403.00(MCX Rs 20695)
MY COUNTS FOR 07 / 12 MAR SILVER
RESISTANCE # 2...............$30.40(MCX Rs 45340)
RESISTANCE # 1...............$30.06(MCX Rs 44985)
PIVOT ...............................$29.77(MCX Rs 44642)
SUPPORT # 1.................... $29.43(MCX Rs 44239)
SUPPORT # 2.....................$29.14(MCX Rs 43950)
RAHUL KUMAR
GOLD Analysist
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To get exact entry and exit level for MCX & COMX GOLD
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DAILY GOLD TREND FOR 06 DEC 2010
GOLD FUTURE HAD ANOTHER STRONG WEEK
MY ANALYSIS
Fundamentally, I believe GOLD FUTURES will make another
new set of all time record highs for because Weaker US doller,
and China increasing their gold reserves. Technically Comex
Gold Future also close above all time high score.
KEEP AN EYE ON CHINA INTEREST RATES
MY COUNTS FOR 06/12 FEB GOLD
RESISTANCE # 2............$1424.00(MCX Rs 20988)
RESISTANCE # 1............$1416.00(MCX Rs 20875)
PIVOT..............................$1402.60(MCX Rs 20706)
SUPPORT # 1..................$1391.00(MCX Rs 20589)
SUPPORT # 2..................$1375.00(MCX Rs 20437)
MY COUNTS FOR 06/12 MAR SILVER
RESISTANCE # 2............$29.86(MCX Rs 44930)
RESISTANCE # 1............$29.57(MCX Rs 44501)
PIVOT..............................$29.08(MCX Rs 43878)
SUPPORT # 1..................$28.79(MCX Rs 43466)
SUPPORT # 2..................$28.30(MCX Rs 42900)
RAHUL KUMAR
GOLD Analysist
MY ANALYSIS
Fundamentally, I believe GOLD FUTURES will make another
new set of all time record highs for because Weaker US doller,
and China increasing their gold reserves. Technically Comex
Gold Future also close above all time high score.
This development has put the commodity on the path to further upmove towards
the 1,424.30 level. On a further strength, Gold should target
the 1,450.00 level and then the 1,500 level. To reverse this view,
the commodity will have to break below the 1,388.10 level and
the 1,315.60 level to annul its current bullish build up.
All in all, the commodity looks to return above the 1,424.30 level
while holding above the 1,388.10 level and its MT rising trendline.
KEEP AN EYE ON CHINA INTEREST RATES
MY COUNTS FOR 06/12 FEB GOLD
RESISTANCE # 2............$1424.00(MCX Rs 20988)
RESISTANCE # 1............$1416.00(MCX Rs 20875)
PIVOT..............................$1402.60(MCX Rs 20706)
SUPPORT # 1..................$1391.00(MCX Rs 20589)
SUPPORT # 2..................$1375.00(MCX Rs 20437)
MY COUNTS FOR 06/12 MAR SILVER
RESISTANCE # 2............$29.86(MCX Rs 44930)
RESISTANCE # 1............$29.57(MCX Rs 44501)
PIVOT..............................$29.08(MCX Rs 43878)
SUPPORT # 1..................$28.79(MCX Rs 43466)
SUPPORT # 2..................$28.30(MCX Rs 42900)
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
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DAILY GOLD TREND FOR 03 DEC 2010
KEEP CLOSE AN EYE ON US UNEMPLOYMENT DATA PRODUCE AT 7.00PM TODAY.
The Gold Market has gone into buy mode this week and the facts remain the same. We still are dealing with our recovery stimulus and uncertainty within the US Markets, the Euro Zone still faces insolvent countries (luckily only dealing with one at a time so far) and China still seems to be the powerhouse leading the economic recovery. China also is allied to North Korea which gives further global tensions. Since the Gold Market has held its strength and has been favored by speculators and Managed Funds, it may still give us a bounce going into the holiday season. After coming off the highs this year of $1424.30 so far a retracement is eminent. Another run would not surprise me and as a matter of fact, I am expecting it with the global sovereign debt and the Korea conflict situation. I do not see instant resolve for any of these problems. If things heat up, it could potentially take the Gold Market into some new highs. We look to buy the dips as this month should supply plenty..................said Leslie Burton - InsideFutures.com.
DOLLAR FACTOR
Why am I elaborating on the US Dollar as a Gold Trader? While the US Dollar remains weighted against the six major currencies, Gold may be boosted by a variety of factors: It is purchased as a safe-haven by investors shifting from low interest bearing government bonds and other products that cannot keep up with the rate of inflation. The Gold may be traded in physical bullion, ETF's, XAU, Spider Gold Trust and futures contracts to name a few. Typically, in years past, the currency of a country could be backed by physical gold. The XAU has traded lower. The Exchange Traded Fund (GLD) reported holdings rose.
The Shanghai Gold Exchange reported that gold imports had risen over the last 10 months to 209.72 tonnes..
MY COUNTS FOR 03/12 FOR FEB GOLD
RESISTENCE #2................$ 1406.50(MCX Rs 20807)
RESISTENCE # 1...............$ 1398.00(MCX Rs 20683)
PIVOT ................................$ 1391.00(MCX Rs 20608)
SUPPORT #1......................$ 1382.50(MCX Rs 20484)
SUPPORT #2......................$ 1376.50(MCX Rs 20409)
RECOMMENDATION : KEEP BUYING ON DIP OR SUPPORT AND RESISTENCE LEVEL
(Because of MCX(India) Dec gold future contract expiry today )
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
The Gold Market has gone into buy mode this week and the facts remain the same. We still are dealing with our recovery stimulus and uncertainty within the US Markets, the Euro Zone still faces insolvent countries (luckily only dealing with one at a time so far) and China still seems to be the powerhouse leading the economic recovery. China also is allied to North Korea which gives further global tensions. Since the Gold Market has held its strength and has been favored by speculators and Managed Funds, it may still give us a bounce going into the holiday season. After coming off the highs this year of $1424.30 so far a retracement is eminent. Another run would not surprise me and as a matter of fact, I am expecting it with the global sovereign debt and the Korea conflict situation. I do not see instant resolve for any of these problems. If things heat up, it could potentially take the Gold Market into some new highs. We look to buy the dips as this month should supply plenty..................said Leslie Burton - InsideFutures.com.
DOLLAR FACTOR
Why am I elaborating on the US Dollar as a Gold Trader? While the US Dollar remains weighted against the six major currencies, Gold may be boosted by a variety of factors: It is purchased as a safe-haven by investors shifting from low interest bearing government bonds and other products that cannot keep up with the rate of inflation. The Gold may be traded in physical bullion, ETF's, XAU, Spider Gold Trust and futures contracts to name a few. Typically, in years past, the currency of a country could be backed by physical gold. The XAU has traded lower. The Exchange Traded Fund (GLD) reported holdings rose.
The Shanghai Gold Exchange reported that gold imports had risen over the last 10 months to 209.72 tonnes..
MY COUNTS FOR 03/12 FOR FEB GOLD
RESISTENCE #2................$ 1406.50(MCX Rs 20807)
RESISTENCE # 1...............$ 1398.00(MCX Rs 20683)
PIVOT ................................$ 1391.00(MCX Rs 20608)
SUPPORT #1......................$ 1382.50(MCX Rs 20484)
SUPPORT #2......................$ 1376.50(MCX Rs 20409)
RECOMMENDATION : KEEP BUYING ON DIP OR SUPPORT AND RESISTENCE LEVEL
(Because of MCX(India) Dec gold future contract expiry today )
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
GOLD TREND FOR MONDAY, 02 DEC 2010
Today keep an eye on US Initial jobless cliam produce at 07.30PM.
Fundamentally, The currency wars between China, Europe, and the U.S. could be the driving force in my opinion that sends COMEX GOLD to $1500/ounce by the end of the year or very early in the 1st quarter of 2011. Because of this, I believe that one should play with gold future, long side.
Technically, COMEX GOLD FUTURES are still in a long-term SUPER TREND higher indicated to me by the market holding and trading above both the 9 week MOVING AVERAGE and the 20 week MOVING AVERAGE, as the MA's point higher. See weekly chart below.
MY COUNTS FOR 02/12 FOR FEB GOLD
RESISTENCE # 2...............$ 1405.00(MCX Rs 20970)
RESISTENCE #1 ...............$ 1396.00(MCX Rs 20798)
PIVOT ...............................$ 1389.00(MCX Rs 20695)
SUPPORT #1.....................$ 1380.00(MCX Rs 20522)
SUPPORT #2.....................$ 1373.00(MCX Rs 20420)
RECOMMENDATION : BUY ABOVE 20700
RAHUL KUMAR
GOLD Analysist
Fundamentally, The currency wars between China, Europe, and the U.S. could be the driving force in my opinion that sends COMEX GOLD to $1500/ounce by the end of the year or very early in the 1st quarter of 2011. Because of this, I believe that one should play with gold future, long side.
Technically, COMEX GOLD FUTURES are still in a long-term SUPER TREND higher indicated to me by the market holding and trading above both the 9 week MOVING AVERAGE and the 20 week MOVING AVERAGE, as the MA's point higher. See weekly chart below.
MY COUNTS FOR 02/12 FOR FEB GOLD
RESISTENCE # 2...............$ 1405.00(MCX Rs 20970)
RESISTENCE #1 ...............$ 1396.00(MCX Rs 20798)
PIVOT ...............................$ 1389.00(MCX Rs 20695)
SUPPORT #1.....................$ 1380.00(MCX Rs 20522)
SUPPORT #2.....................$ 1373.00(MCX Rs 20420)
RECOMMENDATION : BUY ABOVE 20700
RAHUL KUMAR
GOLD Analysist
DAILY GOLD TREND FOR 01DEC 2010
Yesterday gold and silver showing confirm uptrend
due to euro countries debt and Korea tension. Above $ 1392
gold looks like to test all time high $ 1424 near feture.
Silver also contuning on uptrend path and there is no
resion to back before $ 30 near future.
Intraday trader also keep an eye on US data release on
thrusday and friday Jobless claim and Dec unemployment
this will confirm the path of presious metal.
HAPPY BUYING
MY COUNTS FOR 01/12 FEB GOLD
RESISTENCE #2...........$ 1406.00(MCX Rs 21033)
RESISTENCE #1...........$ 1395.00(MCX Rs 20906)
PIVOT #.........................$ 1379.00(MCX Rs 20747)
SUPPORT #1.................$ 1368.00(MCX Rs 20620)
SUPPORT #2.................$ 1352.00(MCX Rs 20460)
RECOMMENDATION : BUY GOLD ABOVE 20900 ($1392) CONFIRM SAFE HEAVN BUYING
MY COUNTS FOR 01/12 MARCH SILVER
RESISTENCE # 2.............$ 29.40 (MCX Rs 44444)
RESISTENCE #1..............$ 28.95 (MCX Rs 43850)
PIVOT #...........................$ 27.95 (MCX Rs 42850)
SUPPORT #1...................$ 27.50 (MCX Rs 42300)
SUPPORT #2...................$ 26.90 (MCX Rs 41510)
RECOMMENDATION : BUY SILVER NEAR 43000 CONFIRM UPTREND
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
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due to euro countries debt and Korea tension. Above $ 1392
gold looks like to test all time high $ 1424 near feture.
Silver also contuning on uptrend path and there is no
resion to back before $ 30 near future.
Intraday trader also keep an eye on US data release on
thrusday and friday Jobless claim and Dec unemployment
this will confirm the path of presious metal.
HAPPY BUYING
MY COUNTS FOR 01/12 FEB GOLD
RESISTENCE #2...........$ 1406.00(MCX Rs 21033)
RESISTENCE #1...........$ 1395.00(MCX Rs 20906)
PIVOT #.........................$ 1379.00(MCX Rs 20747)
SUPPORT #1.................$ 1368.00(MCX Rs 20620)
SUPPORT #2.................$ 1352.00(MCX Rs 20460)
RECOMMENDATION : BUY GOLD ABOVE 20900 ($1392) CONFIRM SAFE HEAVN BUYING
MY COUNTS FOR 01/12 MARCH SILVER
RESISTENCE # 2.............$ 29.40 (MCX Rs 44444)
RESISTENCE #1..............$ 28.95 (MCX Rs 43850)
PIVOT #...........................$ 27.95 (MCX Rs 42850)
SUPPORT #1...................$ 27.50 (MCX Rs 42300)
SUPPORT #2...................$ 26.90 (MCX Rs 41510)
RECOMMENDATION : BUY SILVER NEAR 43000 CONFIRM UPTREND
RAHUL KUMAR
GOLD Analysist
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DAILY GOLD TREND FOR 30 NOV
The Expiry day, so the maket having huge volatiely
The stronger dollar has been a bearish factor limiting the upside in the gold market.
The European Union's sovereign debt problems just won't go away,
even though Ireland did agree to a bailout package in recent days.
Traders are waiting for the next shoe to fall in that ongoing saga.
And while there have been no major fresh developments in the
North Korea-South Korea military stare-down, that situation is also
gold-market-bullish. Any major new and unwanted developments on
those two fronts could see a quick rally in
gold on strong safe-haven buying.
Many investors still believe the Chinese will raise interest rates as
their cost of in country commodities remain at historic high's...
This along with the unemployment data due out Friday and the
continued tension between North and South Korea have Gold traders
apprehensive...........said Mike Daily
MY COUNTS FOR 11/ 30....DEC GOLD
RESISTANCE # 2.................$1380.00(MCX Rs 20492)
RESISTANCE # 1.................$1371.00(MCX Rs 20430)
PIVOT...................................$1364.00(MCX Rs 20343)
SUPPORT # 1.......................$1356.50(MCX Rs 20281)
SUPPORT # 2.......................$1350.00(MCX Rs 20194)
MY COUNTS 11/30 ...DEC SILVER
RESISTANCE # 2................$27.91(MCX Rs 42376)
RESISTANCE # 1................$27.50(MCX Rs 42013)
PIVOT .................................$26.90(MCX Rs 41376)
SUPPORT # 1......................$26.45(MCX Rs 41013)
SUPPORT # 2......................$25.82(MCX Rs 40380)
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
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The stronger dollar has been a bearish factor limiting the upside in the gold market.
The European Union's sovereign debt problems just won't go away,
even though Ireland did agree to a bailout package in recent days.
Traders are waiting for the next shoe to fall in that ongoing saga.
And while there have been no major fresh developments in the
North Korea-South Korea military stare-down, that situation is also
gold-market-bullish. Any major new and unwanted developments on
those two fronts could see a quick rally in
gold on strong safe-haven buying.
Many investors still believe the Chinese will raise interest rates as
their cost of in country commodities remain at historic high's...
This along with the unemployment data due out Friday and the
continued tension between North and South Korea have Gold traders
apprehensive...........said Mike Daily
MY COUNTS FOR 11/ 30....DEC GOLD
RESISTANCE # 2.................$1380.00(MCX Rs 20492)
RESISTANCE # 1.................$1371.00(MCX Rs 20430)
PIVOT...................................$1364.00(MCX Rs 20343)
SUPPORT # 1.......................$1356.50(MCX Rs 20281)
SUPPORT # 2.......................$1350.00(MCX Rs 20194)
MY COUNTS 11/30 ...DEC SILVER
RESISTANCE # 2................$27.91(MCX Rs 42376)
RESISTANCE # 1................$27.50(MCX Rs 42013)
PIVOT .................................$26.90(MCX Rs 41376)
SUPPORT # 1......................$26.45(MCX Rs 41013)
SUPPORT # 2......................$25.82(MCX Rs 40380)
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
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DAILY GOLD TREND FOR 29 NOV
Gold is selling off today as the dollar is strong. Prices have run into resistance at 1380 and look to be forming a head and shoulders pattern. We see near term weakness and see the market moving to test 1340 next week. Volumes are light today and we would be cautious if trading.
Silver is off this morning after running into resistance at 28. A stronger dollar, China moves to curb inflation as well as holiday trading have all lent selling pressure to the market. Some risk premium is being taken out of the market as well as North and South Korea seem to be working things out peacefully. We are near term bearish and see another test of 25 as possible.
The December Gold has reached a high this week of $1382.90 and a low of $1347.90. I am in a bearish mode unless the GCZ10 should penetrate $1375.00 and $1399.60. While the move this last week put us in a temporary sell mode, the Gold is an emotional market that could be explosive with any fear or uncertainty.
There is the potential for another interest-rate hike in China that could pressure gold in the immediate aftermath, warned Mike Daly, gold and silver specialist with PFGBest.
Some of the end-of-week weakness in Comex gold may be the result of liquidation of long positions ahead of first-notice day next week, Nabavi said. Traders, who do not want to take delivery, generally roll forward to the next most-active contract, which is February, or else exit their positions. By the end of Friday, much of this activity should be wrapped up, removing some of the near-term selling pressure in the futures market, Nabavi said.
“Come Monday, we’ll probably have a fresh start,” Nabavi said. “If the tensions continue as they are with North and South Korea, I wouldn’t be surprised if we test the higher end of the range…With the European situation, I don’t think a miracle will happen over the weekend. So the situation will remain. I don’t see any reason why gold should really come off in the near future.”
MY COUNTS DEC GOLD 11/29
RESISTANCE # 2........................$1387.00(MCX Rs 20514)
RESISTANCE # 1........................$1374.00(MCX Rs 20401)
PIVOT..........................................$1362.00(MCX Rs 20298)
SUPPORT# 1............................. .$1350.00(MCX Rs 20184)
SUPPORT # 2............................ .$1341.00(MCX Rs 20085)
MY COUNTS DEC SILVER 11/29
RESISTANCE # 2.........................$28.04(MCX Rs 42286)
RESISTANCE # 1.........................$27.37(MCX Rs 41638)
PIVOT...........................................$26.86(MCX Rs 41146)
SUPPORT # 1...............................$26.18(MCX Rs 40497)
SUPPORT #..................................$25.70(MCX Rs 40006)
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
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DAILY GOLD TREND FOR 26 NOV
The North Korea-South Korea tensions are still bullish for the gold market.
There were no new military clashes between North Korea and
South Korea Wednesday. However, the U.S. has sent an
aircraft carrier to the region, in a show of support for South Korea.
This is a potentially major geopolitical development that bears very
close monitoring in the coming days and weeks.
The situation will likely continue to prompt safe-haven
buying of gold, or at least limit selling interest in the
yellow metal for the near term.
Fundamentally, I believe that COMEX GOLD FUTURES will
rebound higher as we head into the end of the 4th
quarter and the start of the 1st quarter due to the
U.S. Dollar being susceptible to possible sharp sell-offs
causing inflationary fears.
Technically, COMEX GOLD FUTURES are still in a long-term
SUPER TREND higher indicated to me by the market holding and trading above
both the 9 week MOVING AVERAGE and the 20 week
MOVING AVERAGE, as the MA's point higher.
Also notice the increased volume.
Traders appeared to take profits ahead of the Thursday
Thanksgiving Day Holiday. Volume remained crisp as traders
received strong Initial Jobless Claims data as the Department
of Labor revealed that initial weekly claims were 407.000 far
far better than the 435,000 analysts projected....I believe
many traders still believe the Peoples Bank of China intend
to hike interest rates and liquidated their LONG positions in favor
of banking profits.
BE CAREFULL IN INTRADAY TRADES A PROFIT BOOKING MAY SEEN
US DATA : FRIDAY 11/26.
EXPORT SALES...............6:00 PM
MY COUNTS FOR 11/26 DECEMBER GOLD
RESISTANCE # 2.........$1386.00(MCX Rs 20630)
RESISTANCE # 1.........$1379.00(MCX Rs 20514)
PIVOT...........................$1374.00(MCX Rs 20440)
SUPPORT # 1...............$1367.00(MCX Rs 20323)
SUPPORT # 2...............$1362.00(MCX Rs 20250)
RECOMMENDATION : BUY NEAR Rs 20310
MY COUNTS FOR 11/26 DECEMBER SILVER
RESISTANCE # 2.........$28.02(MCX Rs 42450)
RESISTANCE # 1.........$27.78(MCX Rs 42195)
PIVOT...........................$27.44(MCX Rs 41798)
SUPPORT # 1...............$27.19(MCX Rs 41526)
SUPPORT # 2...............$26.86(MCX Rs 41129)
RECOMMENDATION : BUY NEAR Rs 41350
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
There were no new military clashes between North Korea and
South Korea Wednesday. However, the U.S. has sent an
aircraft carrier to the region, in a show of support for South Korea.
This is a potentially major geopolitical development that bears very
close monitoring in the coming days and weeks.
The situation will likely continue to prompt safe-haven
buying of gold, or at least limit selling interest in the
yellow metal for the near term.
Fundamentally, I believe that COMEX GOLD FUTURES will
rebound higher as we head into the end of the 4th
quarter and the start of the 1st quarter due to the
U.S. Dollar being susceptible to possible sharp sell-offs
causing inflationary fears.
Technically, COMEX GOLD FUTURES are still in a long-term
SUPER TREND higher indicated to me by the market holding and trading above
both the 9 week MOVING AVERAGE and the 20 week
MOVING AVERAGE, as the MA's point higher.
Also notice the increased volume.
Traders appeared to take profits ahead of the Thursday
Thanksgiving Day Holiday. Volume remained crisp as traders
received strong Initial Jobless Claims data as the Department
of Labor revealed that initial weekly claims were 407.000 far
far better than the 435,000 analysts projected....I believe
many traders still believe the Peoples Bank of China intend
to hike interest rates and liquidated their LONG positions in favor
of banking profits.
BE CAREFULL IN INTRADAY TRADES A PROFIT BOOKING MAY SEEN
US DATA : FRIDAY 11/26.
EXPORT SALES...............6:00 PM
MY COUNTS FOR 11/26 DECEMBER GOLD
RESISTANCE # 2.........$1386.00(MCX Rs 20630)
RESISTANCE # 1.........$1379.00(MCX Rs 20514)
PIVOT...........................$1374.00(MCX Rs 20440)
SUPPORT # 1...............$1367.00(MCX Rs 20323)
SUPPORT # 2...............$1362.00(MCX Rs 20250)
RECOMMENDATION : BUY NEAR Rs 20310
MY COUNTS FOR 11/26 DECEMBER SILVER
RESISTANCE # 2.........$28.02(MCX Rs 42450)
RESISTANCE # 1.........$27.78(MCX Rs 42195)
PIVOT...........................$27.44(MCX Rs 41798)
SUPPORT # 1...............$27.19(MCX Rs 41526)
SUPPORT # 2...............$26.86(MCX Rs 41129)
RECOMMENDATION : BUY NEAR Rs 41350
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
DAILY GOLD TREND FOR 24 NOV
After bumping up against the 20 day ma for three days,
it finally cleared it today and rallied to 1385.00.
Just looking at the chart, it appears that gold is attempting to
start a new wave up. If it follows through, it should
take out the high at 1426.00. That would give a projection
up to 1450.00. If it fails around 1400.00, it could then be
setting up for a more extensive sell-off than seen currently.
The weekly chart formed a key reversal top two weeks ago.
It has been gold's pattern that when it has done that in the past,
the sell-off is more than what has occurred currently.
This current rally could be very telling.
Earlier in the week North Korea revealed their hidden
uranium enrichment program which indicates that their nuclear capabilities
are much further along than previous estimates.....
Gold is often a refuge for investors during warring environments...
The third quarter GDP was revised up 2.5% one tenth better
than analysts forecasted.
US DATA PRODUCED TODAY : 11/24
DURABLE GOODS....................6:00 PM
INITIAL JOBLESS CLAIMS......6:00 PM
NEW HOME SALES..................6:00 PM
MY COUNTS 11/24 DECEMBER GOLD
RESISTANCE # 2..........$1391.00 (MCX Rs 20730)
RESISTANCE # 1..........$1386.00 (MCX Rs 20640)
PIVOT............................$1371.00 (MCX Rs 20395)
SUPPORT # 1................$1361.00 (MCX Rs 20241)
SUPPORT # 2................$1352.00 (MCX Rs 19996)
MY COUNTS 11/24 DECEMBER SILVER
RESISTANCE # 2...........$28.20 (MCX Rs 42663)
RESISTANCE # 1...........$27.90 (MCX Rs 42336)
PIVOT.............................$27.47 (MCX Rs 41833)
SUPPORT # 1.................$27.15 (MCX Rs 41476)
SUPPORT # 2.................$26.70 (MCX Rs 40960)
RECOMMENDATION : KEEP BUYING UNTILL ABOVE Rs 20305
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Subscribe me : TRADETOPROFIT
it finally cleared it today and rallied to 1385.00.
Just looking at the chart, it appears that gold is attempting to
start a new wave up. If it follows through, it should
take out the high at 1426.00. That would give a projection
up to 1450.00. If it fails around 1400.00, it could then be
setting up for a more extensive sell-off than seen currently.
The weekly chart formed a key reversal top two weeks ago.
It has been gold's pattern that when it has done that in the past,
the sell-off is more than what has occurred currently.
This current rally could be very telling.
Earlier in the week North Korea revealed their hidden
uranium enrichment program which indicates that their nuclear capabilities
are much further along than previous estimates.....
Gold is often a refuge for investors during warring environments...
The third quarter GDP was revised up 2.5% one tenth better
than analysts forecasted.
US DATA PRODUCED TODAY : 11/24
DURABLE GOODS....................6:00 PM
INITIAL JOBLESS CLAIMS......6:00 PM
NEW HOME SALES..................6:00 PM
MY COUNTS 11/24 DECEMBER GOLD
RESISTANCE # 2..........$1391.00 (MCX Rs 20730)
RESISTANCE # 1..........$1386.00 (MCX Rs 20640)
PIVOT............................$1371.00 (MCX Rs 20395)
SUPPORT # 1................$1361.00 (MCX Rs 20241)
SUPPORT # 2................$1352.00 (MCX Rs 19996)
MY COUNTS 11/24 DECEMBER SILVER
RESISTANCE # 2...........$28.20 (MCX Rs 42663)
RESISTANCE # 1...........$27.90 (MCX Rs 42336)
PIVOT.............................$27.47 (MCX Rs 41833)
SUPPORT # 1.................$27.15 (MCX Rs 41476)
SUPPORT # 2.................$26.70 (MCX Rs 40960)
RECOMMENDATION : KEEP BUYING UNTILL ABOVE Rs 20305
RAHUL KUMAR
GOLD Analysist
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