OPTION EXPIRY FOR COMEX DEC GOLD FUTURE (GCZ13)
Last 20 days I have seen a very large increase in the open interest for the strike price of $ 1255 and $ 1275, that indicate us .......the yellow metal should move near the strike cost sooner or later of this week. As Monday is the option expiry day and Wednesday is the first notice day for comex Dec contract.....I expect a move towards strike price or between 1259-1268 after option expiry..
Overall I am still very bearish for yellow metal and hope to taking support near $ 1222-1225 and interested to sell any really or getting strength.
LEVEL FOR MONDAY
RESISTANCE #2 : $ 1253.5
RESISTANCE # 2 : $ 1247.50
PIVOT : $ 1244.10
SUPPORT # 1 : $ 1236
SUPPORT #2 : $ 1228
MCX
RESISTANCE #2 : INR 30505
RESISTANCE #1 : INR 30200
PIVOT : INR 30010
SUPPORT #1 : INR 29700
SUPPORT #2 : INR 29500
RECOMMENDATION : INTRADAY
MCX : SELL NEAR 30100-150 WITH SL FRIDAY HIGH (30320)
COMEX : SELL NEAR $ 1255-58 SL ABOVE $ 1263.10
If u interested to join my trading room connect with me at yahoo massanger : comexgoldfuture@yahoo.com
for one week before join my paid services
TAKE POSITION ACCORDINGLY, if you are wrong NO PROBS the market will give you another opportunity later in the day so be patient. If you are interested in day trading you can join my trading room and I will show you how to day trade throughout the day while the gold market looks ripe to the downside so continue to sell rallies as the path of least resistance is lower.
or call me : +91 895-8173-410
Rahul Kumar
Head and Sr Annalist
Hansraj Stocks and Commodity consultancy
