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
Subscribe me : TRADETOPROFIT
No comments:
Post a Comment