GOLD (MCX)
Gold will have resistance at last week high. Trading above 16870 with volumes will take gold to
16950 , 17020 and 17095 in the coming week.
On the other hand reversal from resistance level means Gold will correct to the significant support level.
Significant support exists for Gold at 16580 for the coming week.
If Gold trades below 16580 with volumes, it could correct sharply to 16490 and 16430.
Link to indian stock market weekly analysis : http://jerrytechnicals.blogspot.com/2010/02/week-after-budget-how-to-trade-nifty.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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