Sunday, January 31, 2010

Gold Views MCX India (1st Feb Jan 2010 till 6th Feb 2010)

Gold


Bullish Argument


Last week we had written that Gold is likely to test 16200 . Last week Gold future closed exactly at 16200.


The short term indicators are in oversold mode indicating a pull back in gold prices.


If Gold future is able to trade above 16450 with volumes, Gold can spring in a surprise by rallying to 16750.


Bearish Argument


Strong support exists for Gold at 16000. If 16000 is not held, Gold will drift down to 15880 and 15700.


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Link to weekly analysis of Indian Stock market


http://jerrytechnicals.blogspot.com/2010/01/weekly-outlook-for-indian-stock-market_30.html


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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