Gold October as seen in the weekly chart above has opened at 30,158 initially moved marginally lower, but found very good support at 30,121 levels. Later prices rallied sharply towards 30,955 levels and finally closed sharply higher from the previous weeks closing levels.
For the next week we expect gold prices to find Support at 30,730 – 30,660 levels and further below strong support is seen at 30,390-30,360 levels. Trading consistently below 30,350 levels would trigger sharp correction initially towards 30,245 then 30,160 and then finally towards the major support at 30,080 levels.
Resistance is observed in the range of 31,180-31,200 levels. Trading consistently above 31,210 levels would lead towards the strong resistance at 31,480 levels, and then finally towards the Major resistance at 32,110 levels. (Neal Bhai 9999974733)
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