GOLD TREND FOR THE WEEK STARTING 03 NOV 2014

GOLD COMEX SETTLED $ 1171.60

Gold comex finally closed below the three years bottam line support after March 2010.
For those who following me its cheer-up time, I have been recommending short yellow metal at top of last week.

Now that we have closed under 1180 level we may see a new trading level devlopment in precisous metal trading.

After study from Mar 2104, whn gold start recent down trend (1325)  level , I got a conclusion that,  yellow metal have a very good support level between 1144-1155 (I could not narrow this range more than that) and my openion says It should pull back at these level for 1195-1200 , where first risistence laying at 1207-1209 level.

I expect the above equation bottam till Tuesday and start a relief rally  till this week end.
NOTE : OVERALL MY TGT FOR GOLD 1115-20 FOR THE YRAR ENDING 2014..


LEVEL FOR THE WEEK
R2 1206
R1 1196
P 1174
S1 1156
S2 1144

HAPPY TRADING

RAHUL KUMAR
BULLION EXPERT
HFBC
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