SUNDAY
WEEKLY UPDATE
Gold in international market last week moved from 1218$ to hit a weekly high of 1244$
and was not able to sustain at higher levels then dropped back to 1220$ and finally
closed at 1233$ however trend for the commodity remains bullish and we expect prices to
move further up to 1244$ and a clear breakout above 1244$ will push the commodity further,
else expect a correction from its resistance levels, immediate supports for the commodity
is now at 1229$ and 1220$ resistance at 1244$,
clear breakout above 1244$ will confirm the next rally till then wait for entries.
Weekly Call :
Buy Gold only above 1245$ (cmp 1233$)
and add further on dips up to 1240$
with SL below 1220$
for positional targets 1270$ and 1284$.
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