MCX Gold Weekly Outlook - 12 April 2010 till 17th April 2010

GOLD

We had writen at 16290 will be strong support for Gold.

Gold exactly reversed from around 16290 and rallied 600 rupees from there.

What a great long trade !!!

GOLD

For the week ahead Gold will take support at 16724 if it needs to continue the upmove.

Reversal from 16724 will take Gold to 16890 and 17030.

Trading above 17035 with volumes next avenues for Gold are 17170 and 17292.

On the other hand breaking and trading below 16650 with volumes, Gold can give up all the gains of last week

and fall to 16381 , 16260 and 16120 in the coming week.

NEXT: BANK NIFTY WEEKLY OUTLOOK

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.

Commodities Trading Level - November 2nd week

Trading Level for Crude Oil MCX

Crude stayed within the levels given last week.

Weekly oversold level - 3420

Weekly overbought level - 3960

Trading Level for Silver MCX

Silver rocked as per levels given last week and moved from S1 level to almost R3 level.

Trading Level for Gold MCX

Gold moved up without control last week .

Commodities Trading Level - November Ist week

Trade Gold, Silver, Crude Oil on MCX

Gold MCX near month future trading levels for next week

Silver MCX near month future trading levels for next week

Crude Oil MCX near month future trading levels for next week