MCX GOLD WEEKLY REPORT 11th April to 15th April 2011

Posted by Bhupendra Adhav on Saturday, April 9, 2011

Market Overview

COMEX Gold is in an upward phase. Last week COMEX Gold sustains on higher level and closed near to its week high. In the coming week 1375$ will act as a major support in COMEX Gold, if COMEX Gold sustains above 1450 $ an ounce then above 1480 $ an ounce it can touch the level of 1500$ an ounce and if COMEX Gold sustains below 1430$ then it can slightly correct and test the level of 1410$ an ounce.

Strategy

For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1450$ an ounce, then above 1480$ it can test the level of 1500$ an ounce and above 1505$ it can further move upward. Trade by keeping the strict stop losses. Major support for COMEX Gold in the coming week is 1430$ and 1410$. Major resistance for COMEX Gold in the coming week is 1505 $ and 1535$ Major support in MCX Gold is 21150 and 20900 Major resistance in MCX Gold is 21500 and 21650 

MCX Tips for Today

Here we daily post MCX Tips for Today for Bullion Commodity Gold Silver, Energy Crude Oil and Natural Gas and Base Metals - Copper, Zinc, Aluminum, Lead and Nickel Tips trend and trading levels for today.
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