Gold Comex settles $ 1584 lower $ 11.50 on Friday and hiting new low of the year $ 1572 during day trading. The gold market reacted negatively to reports that J.P Morgan had suffered a 2 billion dollar trading loss on credit derivatives. What's thats mean the bigest Bank of US fail to manage risk (must read)
and paint a scrinio more nagative for perisious metals.
Keep this aside.......and take a look of these analysis
1. Only sixty minutes charts show us a over sold sitituation ( can shoot up $ 1604 and $ 1614-22 again)
2. Monthaly Weekly and Daily all are negative bias (Ist $ 1567 and a test $ 1520 till end this month)
3. The US Dollar becoming the first choice of investor
4. The uncertainty in the Euro region has caused traders and investors alike to be more tentative with their trading strategies especially when it comes to carrying open positions over night
5. Lower crude oil price put pressure on yellow metal.
CONCULUSTION : EXPECT A CHOPPY TRADE WITH NEGATIVE TREND
MY NUMBERS FOR MONDAY 14 MAY 2012
RESISTANCE # 2………………$1607.00
RESISTANCE # 1………………$1596.00
PIVOT……………………………$1584.00
SUPPORT # 1…………………..$1573.00
SUPPORT # 2…………………..$1561.00
MCX
RESISTANCE # 2………………INR 28530
RESISTANCE # 1………………INR 28445
PIVOT……………………………INR 28360
SUPPORT # 1…………………..INR 28275
SUPPORT # 2…………………..INR 28190
NOTE : Watch my trade set-up for next week starting for May 14th on Monday at 9 .00am
at DAILY ANALYSIS
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
and paint a scrinio more nagative for perisious metals.
Keep this aside.......and take a look of these analysis
1. Only sixty minutes charts show us a over sold sitituation ( can shoot up $ 1604 and $ 1614-22 again)
2. Monthaly Weekly and Daily all are negative bias (Ist $ 1567 and a test $ 1520 till end this month)
3. The US Dollar becoming the first choice of investor
4. The uncertainty in the Euro region has caused traders and investors alike to be more tentative with their trading strategies especially when it comes to carrying open positions over night
5. Lower crude oil price put pressure on yellow metal.
CONCULUSTION : EXPECT A CHOPPY TRADE WITH NEGATIVE TREND
MY NUMBERS FOR MONDAY 14 MAY 2012
RESISTANCE # 2………………$1607.00
RESISTANCE # 1………………$1596.00
PIVOT……………………………$1584.00
SUPPORT # 1…………………..$1573.00
SUPPORT # 2…………………..$1561.00
MCX
RESISTANCE # 2………………INR 28530
RESISTANCE # 1………………INR 28445
PIVOT……………………………INR 28360
SUPPORT # 1…………………..INR 28275
SUPPORT # 2…………………..INR 28190
NOTE : Watch my trade set-up for next week starting for May 14th on Monday at 9 .00am
at DAILY ANALYSIS
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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