MONDAY
WEEKLY UPDATE
Gold in international market last week dropped to 1050$ after fed announcement that they are going to
increase the interest rate by .25 basis points, and they even confirmed that interest rate hike is
a continuous process and by 2018 they project the interest rate should be near 3.75 basis point,
being this as backdrop we expect the rise are Friday weekend closing is nothing but a short covering
or profit booking rally, we expect a steep correction in bullions market over a period of time and
any rise is considered as good opportunity to sell the commodity , very strong support for the commodity
is now at 1050$ and resistance at 1080$.
Weekly Call :
Sell gold international weekly on rises between 1072 – 1077
with SL above 1090 for target 1050$,
any close below 1050$ add further short with SL at cost for extended target 1010.
The MCX Gold and Silver near month futures continue to trade on a negative note, following overseas cues.
ReplyDeleteindian share market live
Sell GOLD Feb below 25160 TGT 25115 & 25060 SL 25218.
ReplyDeletecommodity tips
Precious metal is the segment in which mostly traders invest for big profit. For accurate metal trading tips you can contact with Epic Research.
ReplyDelete