NOTE : ONE MONTH TRAIL OFFER FOR COMEX/MCX GOLD (INTRADAY/POSITION) JUST RS 2000/- OPEN TILL THIS WEEKEND.
GOLD SETTLE LOWER $ 20.40 ( LTP $ 1536.40)
Comex gold futures prices ended the day sharply lower, near the daily low and hit a fresh 10-month low of $1,526.70 an ounce Wednesday. It was yet another “risk-off” day in the market place Wednesday, as the European Union debt worries mount. Gold getting support after the FOMC minutes late night. Fed Chairman Ben Bernanke at the time said U.S. monetary policy was "more or less in the right place" but the central bank would not hesitate to open the monetary spigots further "should the economy require that additional support.
"All things considered, the chances of a QE3 are probably a little higher than we previously thought,"
Gold trading as lows as $1527 in the June contract. Looking deeper into the chart a triple bottom around today's lows could be forming. The last two times prices have been at these levels prices bounced $250/ounce or better than 15% inside of three months. Past performance is not indicative of future results. I would be an aggressive buyer on a further set back or even at these levels as long as $1515 held on a closing basis. Silver under $27.50 which we are currently at has silver longs on my radar.
Keep close eye on today U S Jobless claime at 6.00PM
TODAY NUMBERS
RESISTENCE #2........................$ 1562
RESISTENCE #1........................$ 1551
PIVOT........................................$ 1538
SUPPORT #1.............................$ 1525
SUPPORT #2.............................$ 1515
MCX
RESISTENCE #2........................INR 28320
RESISTENCE #1........................INR 28150
PIVOT........................................INR 28020
SUPPORT #1.............................INR 28840
SUPPORT #2.............................INR 28700
RECOMMENDATION : INTRADAY BUY NEAR 28000-28040 TGT 28150 28250 SL 27900
Happy Trading
Rahul Kumar
Gold Analysist
Call Me : 0969-0022-884
Write me : comexgoldfuture@yahoo.com
Join me : http://hansrajconsualtant.tk/
GOLD SETTLE LOWER $ 20.40 ( LTP $ 1536.40)
Comex gold futures prices ended the day sharply lower, near the daily low and hit a fresh 10-month low of $1,526.70 an ounce Wednesday. It was yet another “risk-off” day in the market place Wednesday, as the European Union debt worries mount. Gold getting support after the FOMC minutes late night. Fed Chairman Ben Bernanke at the time said U.S. monetary policy was "more or less in the right place" but the central bank would not hesitate to open the monetary spigots further "should the economy require that additional support.
"All things considered, the chances of a QE3 are probably a little higher than we previously thought,"
Gold trading as lows as $1527 in the June contract. Looking deeper into the chart a triple bottom around today's lows could be forming. The last two times prices have been at these levels prices bounced $250/ounce or better than 15% inside of three months. Past performance is not indicative of future results. I would be an aggressive buyer on a further set back or even at these levels as long as $1515 held on a closing basis. Silver under $27.50 which we are currently at has silver longs on my radar.
Keep close eye on today U S Jobless claime at 6.00PM
TODAY NUMBERS
RESISTENCE #2........................$ 1562
RESISTENCE #1........................$ 1551
PIVOT........................................$ 1538
SUPPORT #1.............................$ 1525
SUPPORT #2.............................$ 1515
MCX
RESISTENCE #2........................INR 28320
RESISTENCE #1........................INR 28150
PIVOT........................................INR 28020
SUPPORT #1.............................INR 28840
SUPPORT #2.............................INR 28700
RECOMMENDATION : INTRADAY BUY NEAR 28000-28040 TGT 28150 28250 SL 27900
Happy Trading
Rahul Kumar
Gold Analysist
Call Me : 0969-0022-884
Write me : comexgoldfuture@yahoo.com
Join me : http://hansrajconsualtant.tk/
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