RECAP
Last week we had written to short Gold.
Gold fell like nine pins and achieved all downside targets. A gain of more than 1 Lakh rupees for readers who went short in gold.
GOLD Outlook
25 period weighted moving average for gold (on weekly time frame) is placed at 16290.
This will act as strong support for Gold in the coming week.
If Gold trades below 16140 it will open up a downside of 15800.
Now if 16290 is held with volumes, Gold will attempt a bounce back to 16540 - 16590 level.
For Gold to turn positive it must trade above 16670 with volumes.
If GOld is able to do that, it will easily move to 16780 and 16890 in the coming week.
POPULAR DEMAND : WEEKLY TECHNICAL ANALYSIS OF BANK NIFTY FUTURE
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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