WEEKLY GOLD TREND FOR WEEK STARTING JULY 23rd

GOLD SETTLE $ 1582.80

Gold moved form last two weeks between very tight range $ 1555-$ 1595.

The pennant formation in gold looks very close to breaking out.. I believe it will be to the upside, but a downside breakout would probably take it to $1520 and $ 1480.

To  be a sfae trader wait for a breakout to enter in the market either side daily closing.
(For short trade below $ 1555 for long trades above $ 1595) 

I belive a breakout of either side will be trake place this week or hardly early Aug (2-3).

BEST BUY ENTRY : BUY $ 1567-70 TGT $ 1585 $ 1595 SL BELOW $ 1555
BEST SELL ENTRY : SELL $ 1584-87 TGT $ 1571 $ 1555 SL $ 1599
(both stop  should be closing basis)

TODAY LEVEL

RESISTENCE #2........................... $ 1597
RESISTENCE #1............................$ 1589
PIVOT ...........................................$ 1580
SUPPORT #1.................................$ 1572
SUPPORT #2.................................$ 1562

MCX

RESISTENCE #2........................... INR 29390
RESISTENCE #1............................INR 29320
PIVOT ...........................................INR 29260
SUPPORT #1.................................INR 29190
SUPPORT #2.................................INR 29130


Happy Trading

Rahul Kumar
Gold Specialist (Spot & Future)

Call me for trade set-up : +91 895-8173-410

http://www.hansrajconsualtant.tk/