Comex gold future closed sharply lower and hit a two month fresh low.
Stronger economic US jobs data and firmer dollar sunk the precious
metals market fresh low 1t $ 1342.40. Comex gold future ended with
lost $ 23.40 at $ 1346.40.
It was reported that China's gross domestic product was up 9.8% in the
fourth quarter. That was slightly higher than analysts had expected and
heightened speculation China's monetary authorities will move sooner to
tighten monetary policy to reduce domestic consumption.
Now that time most of trader stand sideline just watch the
correct entry for bargin hunting opportunity.It always takes nerve for
an investor or trader to step in and buy a dip in prices.
My openion that, for next copule of days gold market remain a risky
market, but as soon as physical demand raise specially from Asian
sector market reward by strong price rebound.
Technically a major support for gold future at $ 1325.00, and resitence
at wednesday high $ 1378.90. The first support for today market seen at
yesterday low $ 1342.40 and than $ 1331.00, first reisitence seen at
$ 1352.60 and that 1361.00.
MY COUNTS FOR 21 JAN FOR FEB GOLD
RESISTENCE #2...............................$ 1380.00(MCX Rs 20480)
RESISTENCE #1...............................$ 1363.00(MCX Rs 20344)
PIVOT...............................................$ 1353.00(MCX Rs 20233)
SUPPORT#1.....................................$ 1341.00(MCX Rs 20080)
SUPPORT#2.....................................$ 1330.00(MCX Rs 19953)
Happy trading
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
Stronger economic US jobs data and firmer dollar sunk the precious
metals market fresh low 1t $ 1342.40. Comex gold future ended with
lost $ 23.40 at $ 1346.40.
It was reported that China's gross domestic product was up 9.8% in the
fourth quarter. That was slightly higher than analysts had expected and
heightened speculation China's monetary authorities will move sooner to
tighten monetary policy to reduce domestic consumption.
Now that time most of trader stand sideline just watch the
correct entry for bargin hunting opportunity.It always takes nerve for
an investor or trader to step in and buy a dip in prices.
My openion that, for next copule of days gold market remain a risky
market, but as soon as physical demand raise specially from Asian
sector market reward by strong price rebound.
Technically a major support for gold future at $ 1325.00, and resitence
at wednesday high $ 1378.90. The first support for today market seen at
yesterday low $ 1342.40 and than $ 1331.00, first reisitence seen at
$ 1352.60 and that 1361.00.
MY COUNTS FOR 21 JAN FOR FEB GOLD
RESISTENCE #2...............................$ 1380.00(MCX Rs 20480)
RESISTENCE #1...............................$ 1363.00(MCX Rs 20344)
PIVOT...............................................$ 1353.00(MCX Rs 20233)
SUPPORT#1.....................................$ 1341.00(MCX Rs 20080)
SUPPORT#2.....................................$ 1330.00(MCX Rs 19953)
Happy trading
RAHUL KUMAR
GOLD Analysist
Comments me : bestech30@gmail.com
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