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
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
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