MCX Gold August as seen in the weekly chart above has opened at 30,061 initially moved sharply higher, but found good resistance at 30,428 levels. Later prices fell sharply towards 29,760 levels and finally closed lower from the previous weeks closing levels.
For the next week we expect gold prices to find Support at 29,705 – 29,670 levels and further below strong support is seen at 29,400-29,350 levels. Trading consistently below 29,350 levels would trigger sharp correction initially towards 29,206 and then finally towards the major support at 28,800 levels.
Resistance is now seen at 30,370-30,420 levels. Trading consistently above 30,430 levels would lead towards the strong resistance at 30,720 levels and then finally towards the Major resistance at 31,030 levels. (NEAL BHAI 9999974733)
For the next week we expect gold prices to find Support at 29,705 – 29,670 levels and further below strong support is seen at 29,400-29,350 levels. Trading consistently below 29,350 levels would trigger sharp correction initially towards 29,206 and then finally towards the major support at 28,800 levels.
Resistance is now seen at 30,370-30,420 levels. Trading consistently above 30,430 levels would lead towards the strong resistance at 30,720 levels and then finally towards the Major resistance at 31,030 levels. (NEAL BHAI 9999974733)
No comments:
Post a Comment
If you have any doubts, Please let me know