GOLD TREND FOR THE WEEK STARTING 21 SEP 2014

GOLD COMEX DEC FUTURE SETTLED DOWN $ 1216.60 LAST WEEK.

As expected gold continues down since break major support $ 1244 and tested below $ 1220 on weekend.

Now is the time to keep  all logic out of the window and watch
..how the market react between 1183-1222 area and silver $ 16.90-$ 17.55.  The above mention range of presipus metals may became supportive for presipus metals and send back it to again above $ 1255 and $ 18.33 ( I expect Tuesday is the dead line for weekness and we may see a short covering towards higher high.)

Note : I m not recommending any position at this level [$1214, $ 17.47]..
I m intrested to buy on strength or near support and selling on weekness.

Prefer only intraday trades at least 09 more days [till the Oct expiry, after Sep month closing surely I will go for some serious long short to mid term trades..keep watch).

LEAVEL TO WATCH
Down side
$ 1207
$ 1187
Up side
$ 1227
$ 1244
pivot $ 1219
MCX
Monday
Expected upper movement only staying above 26500
lower support 26200
$
happy trading
Rahul Kumar
CTeA
Bullion expert
Join me for only Intraday trades
Whtsaap +91 8193003476
write me bestech30@gmail.com
 

GOLD TREND FOR THE WEEK STARTING 15 SEP 2014

Gold comex Dec future GCZ14 settled down $ 1231.50

TECHNICAL
GOLD SHORT TERM SUPPORT 1208-1220 AND RESISTENCE 1244-45
weekly swing movement expected below :
Monday to Tuesday : up side 1242 ..lower side 1214
Sell on higher 1238-40 SL 1247
closed below 1220..open door for 1180-85.

Wednesday after Fed annoucment if direct hit below 1210 than wait to enter buy arround 1185 with SL 1169 Closing.  A close below 1180 can send yellow metal in 6-8 week bear zone.

Any move above 1244 can approch 1268-75 here again a sell opportunity develop as the bullion grip in sellers.

ANY CLOSE ABOVE 1272 OF SEP EXPIRY MAY REVERSAL IN TREND.

Trade as per levels above

Comex market is too large in contract size so use mini contract to trade.

Happy trading
Rahul Kumar
Bullion expert
CTeA
HFBC
whatsaap +91 819-300-3476
Write me bestech30@gmail.com