Gold Comex Settles $1.30 Higher $1595.50
Yesterday Gold futures traded a quiet $17.20 range as global investors and traders alike remained tentative and viewed U.S Economic data and another European Union debt crisis reprieve as Greece will keep their funding until political election issues are resolved and a new Greek government is in place.
FOMC Chairman Ben Bernanke spoke to the Bank structure and confidence conference and that may have sidelined many Gold traders . In speech Mr. Bernanke stated “The banks have more to do to restore their health” “the banking sector has improved substantially” & “that demand for credit has remained sluggish”. There was no mention of stimulus.
Again Gold close under $ 1600 after made high $ 1602 and looks to resist the same between $ 1602-
$ 1614.....and a littel support $ 1577-$ 1581
MY COUNTS FOR 11 MAY 2012 FOR COMEX
RESISTANCE # 2………………$1611.00
RESISTANCE # 1………………$1603.00
PIVOT……………………………$1594.00
SUPPORT # 1…………………..$1586.00
SUPPORT # 2…………………..$1577.00
FOR MCX
RESISTANCE # 2………………INR 28797
RESISTANCE # 1………………INR 28615
PIVOT……………………………INR 28457
SUPPORT # 1…………………..INR 28275
SUPPORT # 2…………………..INR 28115
INTRADAY RECOMMENDATION : BUY 28200-28225 SL BELOW 28100 TGT 28325 28475
Happy trading
Rahul Kumar
Gold Analysist
Call me for trade set-up 969-0022-884
Write me : comexgoldfuture@yahoo.com
Join me : http://facebook.com/comexgoldfutue
Yesterday Gold futures traded a quiet $17.20 range as global investors and traders alike remained tentative and viewed U.S Economic data and another European Union debt crisis reprieve as Greece will keep their funding until political election issues are resolved and a new Greek government is in place.
FOMC Chairman Ben Bernanke spoke to the Bank structure and confidence conference and that may have sidelined many Gold traders . In speech Mr. Bernanke stated “The banks have more to do to restore their health” “the banking sector has improved substantially” & “that demand for credit has remained sluggish”. There was no mention of stimulus.
Again Gold close under $ 1600 after made high $ 1602 and looks to resist the same between $ 1602-
$ 1614.....and a littel support $ 1577-$ 1581
MY COUNTS FOR 11 MAY 2012 FOR COMEX
RESISTANCE # 2………………$1611.00
RESISTANCE # 1………………$1603.00
PIVOT……………………………$1594.00
SUPPORT # 1…………………..$1586.00
SUPPORT # 2…………………..$1577.00
FOR MCX
RESISTANCE # 2………………INR 28797
RESISTANCE # 1………………INR 28615
PIVOT……………………………INR 28457
SUPPORT # 1…………………..INR 28275
SUPPORT # 2…………………..INR 28115
INTRADAY RECOMMENDATION : BUY 28200-28225 SL BELOW 28100 TGT 28325 28475
Happy trading
Rahul Kumar
Gold Analysist
Call me for trade set-up 969-0022-884
Write me : comexgoldfuture@yahoo.com
Join me : http://facebook.com/comexgoldfutue
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