GOLD TREND FOR JUNE 29th (Fri)

GOLD SETTLE $ 1550.40 LOWER $ 28

 It certainly apparent that investors and traders are not very optimistic that the European Union summit will result in any major changes concerning the debt crisis in the region. The continued indecisive action in the region has placed heavy pressure on the Euro currency and forcing global investors into the U.S Dollar and U.S treasuries as their safe haven alternative investments

Turning to the chart, we see the August Gold contract forming a failed double-bottom pattern at the beginning of June. The pattern failed to both make the measured move and signal a reversal of trend. The market appears to be set to trade sideways if it can hold the 1535 level on the downside. The oscillators are giving neutral readings at the moment.

TECHNICAL

This move lower for September silver generates a sell signal on the daily chart.  Silver issued a sell signal on its weekly chart last week and the trend is down on the monthly chart. 

August gold futures similarly issued a fresh sell signal on the daily chart today.  Gold gave a sell signal last week on the weekly chart and this is the second month in a row gold has closed below its 20-period SMA on the monthly chart, a bearish indicator

RECOMMENDATION : AS THE WEEKEND AND LAST DAY OF EU SUMMIT, WE ARE NOT TAKING ANY FRESH POSITION TILL THAT....... BUT SUGGESTION TO REVISE SL ON SHORT $ 1565 AND WAIT FOR MY WEEKLY REPORT ON MONDAY........

TODAY LEVEL

RESISTANCE # 2…………. $1591.00
RESISTANCE # 1…………. $1570.00
PIVOT…………………..…. .$1559.00
SUPPORT # 1……………....$1538.00
SUPPORT # 2……………....$1527.00

MCX

RESISTANCE # 2…………. INR 30160
RESISTANCE # 1…………. INR 29910
PIVOT……………………… .INR 29770

SUPPORT # 1……………... INR29525

SUPPORT # 2……………...INR 29380

Happy Trading

Rahul Kumar

Head & Sr  Analysist

Hansraj Stocks & Commodity Services

http://hansrajconsualtant.tk/

Call me : 969-0022-884 

 

GOLD TREND FOR JUNE 28th (Thu)

GOLD SETTLE $ 1578.40 HIGHER $ 3.50

Gold moved entire trading day between a tight  technical range (1st risistence & 1st support).  Last  two days action show that traders are waiting for some news (good/bad) to do somthing.  They are awaiting for today US economic data and two day  20th EU summit strat from today in order to resolve the spreading debt crisis in the region.  There are low expectations for concrete results coming out of this latest gathering of EU officials.

Technically I am in selling mode untill gold not close above $ 1603 and wait to add more shorts if any closing below $ 1548 for a tgt $ 1525.

TODAY LEVEL

RESISTANCE # 2…………. $1597.00
RESISTANCE # 1…………. $1587.00
PIVOT…………..………… .$1575.00
SUPPORT # 1……………....$1566.00
SUPPORT # 2……………....$1553.00

MCX

RESISTANCE # 2…………. INR 30250
RESISTANCE # 1…………. INR 30110
PIVOT……………..……… .INR 30000
SUPPORT # 1……………....INR 29865
SUPPORT # 2……………....INR 29770

Happy Trading

Rahul Kumar
Gold Analysist (Spot & Future)

Call me : 969-0022-884

GOLD TREND FOR JUNE 27th (Wed)

GOLD SETTLES $ 1574.90 LOWER $ 13.50

Gold futures traded a choppy $20.20 range as Spanish and Italian borrowing costs rose as concerns that this week’s European Union summit will fail to solve the regions debt crisis. This situation has pressured the Euro currency, made the U. S Dollar the favored investment choice, and therefore has lessened the appeal for precious metals. However, these price levels are apparently appealing to Central Banks recently as the International Monetary Fund’s website has produced data showing that Russia, Turkey, Ukraine, and Kazakhstan have increased their gold reserves. Gold has also not been able to maintain recent rally momentum as the price of Crude Oil continues to trade under $80.00 per barrel.  Crude Oil futures traded as low as $78.33 per barrel. These lower Crude prices are anti- inflationary and therefore “bearish” precious metals.

TODAY LEVEL

RESISTANCE # 2…………. $1597.00
RESISTANCE # 1…………. $1586.00
PIVOT…………………..… .$1577.00
SUPPORT # 1……………....$1566.00
SUPPORT # 2……………....$1557.00

MCX

RESISTANCE # 2…………. INR 30280
RESISTANCE # 1…………. INR 30125
PIVOT…………………..… .INR 30020
SUPPORT # 1……………....INR 29870
SUPPORT # 2……………....INR 29770

RECOMMENDATION : KEEP SHORT WITH PROPER SL

Happy Trading

Rahul Kumar
Gold Analysist (Spot & Future)

Call me : 969-0022-884


 

GOLD TREND FOR JUNE 26th (Tue)

GOLD SETTLE $ 1588.40 HIGHER $ 21.10

The market was fueled as short covering and renewed safe- haven buying helped push the yellow metal through the $1575-$1585 resistance levels. Despite lower Crude Oil prices and a stronger U.S Dollar it became apparent that investors and traders alike were choosing the precious metals as their alternative investment choice as the news from the European Union continues to capture the world’s headlines.

The Low Breakout Continuation Setup signal implies significant downside IF yesterday's low happens to be taken out. The Momentum Pinball Sell signal also suggests that IF the first hour's low is broken, the market is suggesting something entirely different than indicated by the 90-10, and we'd want to be thinking on the short side. Cycle Indicators  have moved into a region where short term cyclical lows often form. Initial odds faveour continued upside in today earlier trading. Buy the break of yesterday's 1589.0 high with a stop just below the 1581.4 level of the Daily Pivot. Price strength above the DP may provide clues for earlier entry. The Momentum Pinball Sell signal, on the other hand, suggests we consider the short side if the first hour's low happens to be broken to the downside

TODAY LEVEL

RESISTANCE # 2…………. $1603.00
RESISTANCE # 1…………. $1599.00
PIVOT……………..……… .$1581.00
SUPPORT # 1……………....$1565.00
SUPPORT # 2……………....$1559.00

MCX

RESISTANCE # 2…………. INR 30450
RESISTANCE # 1…………. INR 30250
PIVOT………………..…… .INR 29990
SUPPORT # 1……………....INR 29810
SUPPORT # 2……………....INR 29540

TRADE ALERAT : SELL GOLD $ 1587 TGT $ 1569 $ 1552 SL $ 1603
                               SELL SILVER $ 27.55-65 TGT $ 26.20 $ 25.10 SL $ 28.50

Happy Trading

Rahul Kumar
Gold Analysist (Spot & Future)

Call me : 969-0022-884

WEEKLY ANALYSIS START FROM 25TH JUNE

As analyzed for gold on Friday, next week may still begin with a recovery. But the first slight short-positions can be gone in immediately at the silver opening. At opening I’ll go short with 100oz silver CFDs – daily position - SL 28.40 MIT. A daily close above 27.17 on Monday is supposed to/might max. lead to a kiss of death at 27.90 by the middle of the week. These marks are other entry points for further short-engagements. Please don’t expect that subsequently the 26.11 will fall definitely in the first go, apart from the overnight trading, here 25 might be possible at once or even 23.50 – also as early as on Monday! Not before a dayly close below 25.60 beneath the weekly support Gann Angle that will pass at 25.70 next week the actual weekly sell-signal will be definitely confirmed because thereby the monthly support is expected to be broken as well. The risk/reward ratio for shorts is extremely good!! 


Happy trading

Rahul kumar

GOLD TREND FOR JUNE 22nd (FRI)

GOLD SETTLE $ 1565.50 LOWER $ 50.30

 August Gold futures traded a mammoth $43.40 volatile range.
The fallout from the FOMC’s hesitance to inject more stimulus into U.S economy continued across the globe as investors and traders world-wide where once again disappointed in the FED’s non- committal action. Apparently FOMC Chairman Bernanke’s statement “we are prepared to do more” wasn’t enough to keep Gold bugs confident in their long positions.
There is certainly a trend forming.  Bernanke speaks and precious metals get crushed!
This trend started February 29th.  The U.S Department of Labor released last week’s Initial Jobless Claims as 387.000. This was expected to be 383,000.

TODAY LEVEL

RESISTANCE # 2…………. $1623.00
RESISTANCE # 1…………. $1595.00
PIVOT………………..…… .$1580.00
SUPPORT # 1……………....$1551.00
SUPPORT # 2……………....$1537.00

MCX

RESISTANCE # 2…………. INR 30400
RESISTANCE # 1…………. INR 30150
PIVOT……………..……… .INR 30010
SUPPORT # 1……………....INR 29770
SUPPORT # 2……………....INR 29630

Happy Trading

Rahul Kumar
Gold Analysist (Spot & Future)

Call Me : 969-0022-884


 

GOLD TREND FOR JUNE 21ST (THU)

GOLD SETTLE $ 1615.80 LOWER $ 7.40

Today’s August Gold futures traded a very choppy and volatile $36.10 range. The session produced a very seesaw trade and traded as low as $1590.50. The world was waiting to hear the verdict from the two day FOMC meeting. Once again the answers were a bit cryptic and resulted in no definite time frame for more stimulus. However, there seemed to be a different tilt to his statements. Chairman Ben Bernanke stated “ If we do not see more improvement from the labor market we will do more”..... “we are prepared to do more”. The also said he thought both QE programs were effective”.  Once again this was not the response gold bugs were hoping for.

But is was as devastating as his past conferences. He certainly addressed the poor labor market and he did say twice “we are prepared to do more”.  Investors and traders will eye today U S  economic data before choosing their trading strategies.

TODAY LEVEL

RESISTANCE # 2…………. $1646.00
RESISTANCE # 1…………. $1629.00
PIVOT………………..…… .$1610.00
SUPPORT # 1……………....$1596.00
SUPPORT # 2……………....$1574.00

MCX

RESISTANCE # 2…………. INR 30500
RESISTANCE # 1…………. INR 30400
PIVOT…………………..… .INR 30200
SUPPORT # 1……………....INR 30050
SUPPORT # 2……………....INR 29900


Happy Trading

Rahul Kumar
Gold Analysist (Spot & Future)

GOLD TREND FOR JUNE 20TH (WED)

GOLD SETTLE $ 1623.20 LOWER $ 3.80

Today’s August Gold futures traded a quiet $16.20 range as many gold bugs appear to be waiting for news from the FOMC after their two day meeting ends today. The mood in the market remains tentative and uncertain as traders are hoping the FED will take a straight forward approach in its decision whether or not to inject more stimulus in order to jump start the sluggish U.S economy.   Many analysts are predicting the FOMC will suggest more stimulus however, we gold traders have been disappointed every FOMC meeting since September 29th as FOMC Chairman Ben Bernanke has continuously stated that there is no need for anymore stimulus in the near future as the economy is growing at a gradual pace…The latest jobs sector housing sector, and trade numbers suggest the U.S economy is slowing….So it is my belief that traders and investors alike are waiting for tomorrow’s FOMC news release before choosing their trading strategies.

RECOMMENDATION : OUR TGT FOR THE MONTH OF JUNE $ 1670,..........  TRADERS SHOULD KEEP AN EYE ON TODAY FOMC RESULTS


TODAY NUMBERS

RESISTANCE # 2…………. $1641.00
RESISTANCE # 1…………. $1632.00
PIVOT…………………..… .$1625.00
SUPPORT # 1……………....$1616.00
SUPPORT # 2……………....$1609.00

MCX

RESISTANCE # 2…………. INR 30540
RESISTANCE # 1…………. INR 30360
PIVOT………………......… .INR 30260
SUPPORT # 1……………....INR 30100
SUPPORT # 2……………....INR 29990


Happy Trading


Rahul Kumar
Gold Analysist (Spot & Future)

Call me : 969-0022-884

GOLD TREND FOR JUNE 19TH (TUE)

GOLD SETTLE $ 1627 LOWER $ 1.10

The metals markets continue to be divided as we see the gold remain relatively strong as the safe haven bid continues to support the price discovery well above 1600.  Greece avoided exiting the Euro currency zone as the Greek citizens elected political parties who favored an international bailout deal however, the region’s debt crisis remains prevalent.

The G20 is currently meeting in Las Cabos, Mexico and as one would expect, the Euro crisis is dominating those talks as well.  The official statement is not yet been released but the stern warnings that any further bungling of the handling of the EU crisis could lead to a significant global downturn for equity.

Its looks  that traders are remaining tentative as they wait to hear news from the FOMC’s  Tuesday – Wednesday meeting this week.  Stimulus ? or No Stimulus ?


TODAY LEVEL

RESISTANCE # 2…………. $1646.00
RESISTANCE # 1…………. $1637.00
PIVOT………………..…… .$1622.00
SUPPORT # 1……………....$1612.00
SUPPORT # 2……………....$1598.00

MCX

RESISTANCE # 2…………. INR 30575
RESISTANCE # 1…………. INR 30450
PIVOT…………………..… .INR 30200
SUPPORT # 1……………....INR 30080
SUPPORT # 2……………....INR 29850


Happy Trading

Rahul Kumar
Gold Analysist (Future & Spot)

Call me : 969-0022-884



 

GOLD TREND FOR JUNE 8th (FRI)

GOLD SETTLE $ 1588 LOWER $ 46.20

The evening gold session reacted positively to news that China PBOC (the Peoples Bank of China) had cut rates for the first time since 2008. Hong Kong based economists are predicting that there will be at least one more rate cut before year end. There is also wide speculation that the Chinese government will respond with a 2 trillion Yuan stimulus package to help jump start China’s sluggish economy. This helped Gold to stay above the $1620.00 until Mr. Bernanke began speaking at 1930 hrs. It was widely thought that Mr. Bernanke would be more decisive with his comments regarding the U.S economy.

However, Mr. Bernanke was very non committal and stated “FOMC has made no decision on more Quantitative Easing’ and added “the option would not be taken off the table.  With Bernanke speaking  we can most likely expect more of the same easing rhetoric, though it would be a surprise to hear any specific call to action and cause a sell-off.  However, yesterday’s sell-off was certainly another avalanche due to sketchy and unclear comments.

 The FOMC will hold their next meeting on June 19th – 20th. Many of the FOMC members have prompted more support for stimulus in the recent days so we will have to wait twelve days for their decision.

WATCH LEVEL : IF $ 1580 HOLD FOR THE DAY IT WILL RE-ACT MAJOR SUPPORT FOR JUNE


TODAY LEVEL

RESISTANCE # 2………….$1650.00
RESISTANCE # 1………….$1619.00
PIVOT…………………..… $1599.00
SUPPORT # 1……………...$1568.00
SUPPORT # 2……………...$1548.00

MCX

RESISTANCE # 2………….INR 30100
RESISTANCE # 1………….INR 29860
PIVOT………………..…… INR 29520
SUPPORT # 1……………...INR 29080
SUPPORT # 2……………...INR 28700

Happy Trading

Rahul Kumar
Gold Analysist

Call me : 969-0022-884

GOLD TREND FOR JUNE 07th

GOLD SETTLE $ 1634.20 HIGHER $ 17.30

YESTERDAY’s gold futures market breached the $1635.00 - $1640.00 resistance levels while notching a high of $1642.40 before selling off late in the session. It is my opinion that traders may have opted to take profits prior to FOMC Chairman Ben Bernanke’s speech in front of U.S lawmakers tomorrow.

Gold settled above the 50 day MA for the first time since mid-March when prices were approximately 5% higher than current levels. A 38.2% Fibonacci retracement is compete and investors that listed to my recent buy recommendations should be satisfied with this leg. This in my eyes is just the beginning as I think we see $25-30/ounce more relatively quickly. Silver as prices were higher by nearly 4% today lifting prices in silver near one month highs. I see $29 as support with $30.23/31 as an upside target.

 Also trades will be looking at Thursday’s  US economic data before choosing their trading strategies.


Note : These moves will not be straight up so make sure you monitor you positions and manage the trades.

TODAY LEVEL

RESISTANCE # 2………….$1657.00
RESISTANCE # 1………….$1645.00
PIVOT…………………..… $1631.00
SUPPORT # 1………...........$1621.00
SUPPORT # 2……………...$1605.00

MCX

RESISTANCE # 2………….INR 30390
RESISTANCE # 1………….INR 30225
PIVOT………………..…… INR 30130
SUPPORT # 1……………...INR 29971
SUPPORT # 2……………...INR 29870

Happy Trading

Rahul Kumar
Gold Analysist
Head, Hansraj Stocks and Commodity Consualtant

Call me : 969-0022-884

GOLD TREND FOR JUNE 6TH (WED)

 GOLD SETTLE $ 16.90 HIGHER $ 3

Many traders and investors may be waiting on the side-lines awaiting news from TODAY European Central Bank Officials meeting and more importantly FOMC Chairman Ben Bernanke’s testimony before U.S Lawmakers on Thursday. If in fact there is more easing it should prove “ very bullish” for the precious metals

It appears Spain went begging to the ECB today to borrow 119.4 bln euros to get them through the next seven days.  That's more than double the amount needed a week ago.  Greek hit up the ECB yesterday was well.  Needless to say the central bank governors and G7 finance ministers are having meetings yesterday and today yet refusing to print money.  It appears the reason is that there is a standoff between those who want to print like mad and those who don't. 
The ECB will probably extend loans, lower interest rates, etc. for now and that will probably give hope that the situation is being contained.  By viewing the markets overall it appears they are somewhat oversold and pausing to possibly set up for some interim rallies.  They in no way are indicating that they will be sustained rallies in the sense of major turnarounds.

As I posted regularly since last Friday, I am not more bearish  in yellow metals  and keeping  my projection  for Gold future $ 1670 leter this week or sooner next week. The last two days of week (Thu-Fri) containing more news event which having major impect on yellow metals movement keep watch. 

Silver projection $ 30.23 and $ 31 ( adding position above $ 29.03 closing)

TODAY LEVEL

RESISTANCE # 2………….$1630.00
RESISTANCE # 1………….$1623.00
PIVOT………………..…… $1618.00
SUPPORT # 1……………...$1611.00
SUPPORT # 2……………...$1606.00

MCX

RESISTANCE # 2………….INR 30190
RESISTANCE # 1………….INR 30110
PIVOT………………  …… INR 30020
SUPPORT # 1……....……...INR 29940
SUPPORT # 2……………...INR 29860

Happy trading


Rahul Kumar
Gold Analysist
Head, Hansraj Stocks and Commodity Consualtant

Call me for trade set-up : 969-0022-884

   

GOLD TREND FOR JUNE 05th (TUE)

GOLD SETTLE $ 1613.90 LOWER $ 8.20

Today’s August Gold futures traded choppy $19.70 range as appeared traders
may have been motivated to take profits after Friday’s mammoth $57.90 rally.
My openion that gold can test $ 1656-$1670 till 20 Jun,
Istt strong resistence laying at $ 1637-39 .........I am  a aggressively
buyer at the level $ 1595-$ 1600 in this week.  As long as silver hold $ 28 I suggest 
keep long side view for tgt $ 29 and above that $ 30.23.........contact me for exact
level to trade ..........



TODAY LEVEL

RESISTANCE # 2………….$1638.00
RESISTANCE # 1………….$1626.00
PIVOT…………………..… $1618.00
SUPPORT # 1……………...$1606.00
SUPPORT # 2……………...$1598.00

MCX

RESISTANCE # 2………….INR 30195
RESISTANCE# 1….……….INR 30055
PIVOT………………..…… INR 29960
SUPPORT # 1……………...INR 29830
SUPPORT # 2……………...INR 29740


Happy Trading

Rahul Kumar
Gold Analysist
Head, Hansraj Stocks and Commodity Consualtant

Call me : 969-0022-884


 

WEEKEND VIEW JUN 2ND (SAT)

Gold exploded 3.7% higher yesterday with prices erasing three weeks of losses in one session lifting prices intra-day back above its 50 day MA. Gold should be bought on weakness as a bottom has been established in my estimation.  Upside in August I see as $1670 followed by $1700. With silver settling back over $28/ounce traders can wok long here as well. This could be a bumpier ride than gold but I see $30.50/31 in the coming weeks. My suggestion is to build a position in both metals as this could be the 2012 low that we just made.

* AS I TOLD EARLIER WE ARE IN BUYING UNTILL GOLD MAINTAIN $ 1525


* OUR LAST WEEK TRADES

* GOLD COMEX BOUGHT IST ENTRY $ 1539 (May 30th) IIND ENTRY $ 1572 (June 1st) IIRD ENTRY $ 1592 (June 1st) HOLD ALL CLOSE $ 1626 (KEEPING SL $ 1583) 


* MCX (AUG) IST ENTRY 29250 ( May 31st)   IIND 29065 (June 1st) IIRD ENTRY 29700 (June Ist) HOLD ALL CLOSE ABOVE 30000 (KEEPING SL 29655)


*  SILVER IST ENTRY $ 27.72 (May 30th) IIND ENTRY $  28.22 (June 1st) and WE WILL  ADD MORE  WHEN CLOSE ABOVE $ 29.07  HOLD ALL CLOSE $ 28.68 (KEEPING SL $ 27.69)


*  MCX SILVER IST ENTRY 53890 (May 31st)  IIND ENTRY 53100 (June 1st) and WE WILL  ADD MORE WHEN CLOSE 55250  HOLD ALL CLOSE  54400 (KEEPING SL 52800)

Happy Trading

Rahul Kumar
Gold Analysist

Call me for trade set-up : 969-0022-884