Author having wide experience in Commodities market and advising from last 13 years.
Now spot Gold, if break and close below $1504 then bigger correction can be seen in coming sessions. For today it will face resistance in the range of 38000-38100. On downside 37700 a support area., close below this then sharp downside can be seen in coming days.Click here to see Gold Commodities India's all calls.
Yes..All clients were recommended to sell at 38350 and booked finally at 37500..Yesterday was the best trading day in recent past.. Now on higher side 37900-38000 will be resistance zone for near term. Volatility will be seen in near future. Correction was due from long time. So trade on sell side if any rise seen towards resistance zone.Click here to see Gold Commodities India's all calls.
Parabolic rise to continue. Support for today at 38150-38200 ranges. On higher side 38500-38700 next resistance level. Still no signs of weakness. $1500 spot will be new support area for coming sessions. Anytime close below this then only weakness to start ..Till then enjoy the uptrend...Click here to see Gold Commodities India's all calls.
We recommended to sell positional at 3950 and holding the position for lower targets. Now on lower side if sustain below 3850 then some more downside can be seen.Click here to see Gold Commodities India's all calls.
Gold is on fire and ignoring all signs of overbought condition...Now on higher side 38000 is a psychological target and resistance zone next for coming sessions. Depreciating Yuan is adding fuel to the Gold price. Now on higher side Spot $1495-1500 ranges is next resistance area. Support at $1470 for coming days.Click here to see Gold Commodities India's all calls.
Now Gold has reached the higher side of overbought zone. upside till today afternoon or evening can be seen. There after stay cautious in buying side. On higher side 37500-37800 area hurdles...Support for today at 37050. In evening if stays below this level then profit booking can be seen.Click here to see Gold Commodities India's all calls.
Gold crossed Resistance area on Friday at 36000. Now on higher side next hurdle at 36500-36600 area. Support on downside at 36000. As mentioned earlier Gold is in free buying mode. Any major dips remains buying opportunity as it is in overbought zone. So use dips to buy.Click here to see Gold Commodities India's all calls.
Again its TRUMP factor which played a role in volatility of GOLD. Yesterday sudden spike seen on his announcement on tariff. Now on higher side 35900-36000 is resistance zone and support for today is 35500-35600 level. Today's closing of weekend remains important for coming sessions. If today manage to close above $1440 then more upside can be seen in coming sessions. And closing comes below $1415 then its correction time. So keep eye on levels and then trade.Click here to see Gold Commodities India's all calls.
Volatile moves with sharp downside seen yesterday because of Trump's announcement on China goods to levy fresh 10% tariff in September. All commodities got affected by this. Now on higher side will face resistance around 3850-3900 ranges. This will act as strong hurdle. On downside again 3700-3600 remains downside target for coming days.Click here to see Gold Commodities India's all calls.
FEB lowered the interest rates by 25 basis points and this was already factored in. With the comment given by the FED Chairman Powell that this is not the beginning of the down cycle of rates. And this statement forced Bullion south wards. Now on lower side today 34900-35000 is next immediate support. First 1 hour low is important for Gold in MCX. In afternoon if 35200 is not crossed then some more downside can be seen. But wait till evening for clear direction and taking trade.Initial downside can be seen in early sessions.Click here to see Gold Commodities India's all calls.