Skip to main content

GOLD VIEW





Gold 5th April contract is trading with a negative bias after violating the rising channel.it has found support around 27320 levels but is not able to sustain 20 and 40 EMA .MACD has also given a negative crossover and presently is below the zero level indicating weakness.The RSI on the daily charts has also broken the chaannel and is currently below the 50 levels The overall scenario for gold seems to be sideways to bearish untill support levels are being violated on closing basis.Gold will face an immediate resistance at 28120 levels in short tern.
               Trader are therefore suggested to trade with a cautious view until the picture gets clear enough

Comments

Post a Comment

Popular posts from this blog

DOJI - LONG LEGGED

Today Nifty  opened more than 100 points down and Sensex with more than 300 amidst weak global cues.It ended this week following a 4 day losing streak.On daily charts Nifty has formed a long legged doji with a gap down indicating enormous uncertainty for markets next week.The Breadth continued to be in favour of the bears with 700 Advances to 1011 Declines on Nifty.In early trading sessions Nifty recovered about 70 odd points wherein bears pounced with 2nd leg of selling taking Nifty back to 9700.                                 The big boy SBIN came out with a disappointing set of results for which market gave a thumbs down, SBIN  & RELIANCE tumbles 5.6%  & 2.5% respectively adding further momentum downside.Today was the last session for this week , Nifty made a long Full body bearish candle on weekly charts ,alarming for further correction on the way next week , The ...
Post a Comment
Read more