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
