DAILY GOLD TREND FOR 19 JAN 2011

TILL 31 JAN WE ARE NOT ADDING NEW MEMBERS
(Till that if some one wants a free trade setup with me for comex gold future can email me bestech30@gmail.com)

Comex gold future setteled higher on tuesday up $ 6.60
at $ 1367.10.  A lower US Dollar Index supportive for
the precious metals.  If the US dollar continues on a
downtrend path in near term, looks support gold price
to their recent downtrend.

The metal markets are awaiting Thursday Chinese
consumer price inflation data. Last week Chinese
monetery authority raised reserve requirement ration
for bank by 0 .5% to 19%.  Any further monetery
policy tighteing from China would be Commodity
 market bearish.

Techanically  market looks positive a close above
techinacl resistence last week high $ 1392.90, and
a close below techinical support January low $ 1352.70
sign for more bearish pattern.

First resistence seen at $ 1376.00 at yesterday high
 and than $ 1384 first support seen at $ 1360.00 and
than last week low $ 1354.60.

MY COUNTS FOR 19 JAN FOR FEB GOLD

RESISTENCE #2.......................... $ 1383.00(MCX Rs 20484)
RESISTENCE #1.......................... $ 1376.00(MCX Rs 20406)
PIVOT.......................................... $ 1368.00(MCX Rs 20345)
SUPPORT #1............................... $ 1360.00(MCX Rs 20267)
SUPPORT #2............................... $ 1353.00(MCX Rs 20210)

Happy  trading


RAHUL KUMAR
GOLD Analysist

Comments me : bestech30@gmail.com