Gold recovery still confusing
Gold (23.03.2015) moved higher as mention in our last article just around swiss gold referendum & posted a higher above $1300 mark. However it felt sharply & reached to the previous bottom around $1138.
Now gold showing recovery from previous bottom level & also broken from a shot term descending channel as shown in picture. However this breakout is not supported well in terms of volume & that force us to stay concern about this upside rally. The strength of this rally will be tested on $1205 once.
On fundamental side a clear signal from FED to not raise the interest rate very soon & over bought conditions in dollar could support further.
Based on above studies, gold probably will more higher towards $1205 in coming trading session & will test the strength on this mark.
Note - Above technical analysis is not a buy/sell recommendation. For recommendations Contact Us
Call Us : 088890 34986
mantracommodity.blogspot.in
MCX levels -> S2(25900) S1(26010) cmp(26150) R1(26330) R2(26510)
Now gold showing recovery from previous bottom level & also broken from a shot term descending channel as shown in picture. However this breakout is not supported well in terms of volume & that force us to stay concern about this upside rally. The strength of this rally will be tested on $1205 once.
On fundamental side a clear signal from FED to not raise the interest rate very soon & over bought conditions in dollar could support further.
Based on above studies, gold probably will more higher towards $1205 in coming trading session & will test the strength on this mark.
Note - Above technical analysis is not a buy/sell recommendation. For recommendations Contact Us
Call Us : 088890 34986
mantracommodity.blogspot.in
MCX levels -> S2(25900) S1(26010) cmp(26150) R1(26330) R2(26510)
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.