GOLD COMEX SETTLED : 1251.80
TREND : RECOVERY IN CONSOLIDATION RANGE
FUNDAMENTALLY :
Last Friday there was a surprise move selling at day high level after poor NFP numbers. Purely a manipulation by the big traders involved in future trading. RBI also start high level of sovereign bonds buying that also increase some demand in yellow metal lower level.
TECHNICALLY :
If market really wants to go down than also I expected a lower top around 1295-98 or near 1308 possible in next 1-3 weeks. So gold at a price for buying opportunity as well as silver seems much better below 18 for buying and accumulate in small quantities.
However safe traders can wait a day closing above 1272 for entering safe.
TRADE LEVELS
R2 : 1298
R1 : 1284
P : 1272
S1 : 1260
S2 1245
For Intraday trading level MCX/COMEX contact :
Rahul Kumar
Bullion Expert
HFBC 8193003476
TREND : RECOVERY IN CONSOLIDATION RANGE
FUNDAMENTALLY :
Last Friday there was a surprise move selling at day high level after poor NFP numbers. Purely a manipulation by the big traders involved in future trading. RBI also start high level of sovereign bonds buying that also increase some demand in yellow metal lower level.
TECHNICALLY :
If market really wants to go down than also I expected a lower top around 1295-98 or near 1308 possible in next 1-3 weeks. So gold at a price for buying opportunity as well as silver seems much better below 18 for buying and accumulate in small quantities.
However safe traders can wait a day closing above 1272 for entering safe.
TRADE LEVELS
R2 : 1298
R1 : 1284
P : 1272
S1 : 1260
S2 1245
For Intraday trading level MCX/COMEX contact :
Rahul Kumar
Bullion Expert
HFBC 8193003476
