We had writen last week Gold is looking weak.
What a crash followed in Gold !!!!!!!!!!!!!!!!!!!!!
Link to last week's Gold article : http://jerrytechnicals.blogspot.com/2009/12/gold-views.html
Gold high was last week was exactly equal to the first support level given.
Chart Take
Chart supports exist at 16620 and 16000.
17420 and 17500 act as strong resitances for gold
Fibonacci
Fibonacci supports exists at 16780 and 16400.
Fibonacci projection resistances are placed at 17200 and 17540.
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.
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