Posted by Naresh Tomar on Saturday, September 17, 2011
Gold Weekly Report :- COMEX Gold is in an upward consolidation phase. Last week COMEX Gold was neither sustained on lower level for the most part of the week but on the last day it bounced back and made a weekly close above 1800$ an ounce. In the coming week 1750$ will act as a major support in COMEX Gold and 1920$ will act as a major resistance.
MCX Gold For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1820 $ an ounce, then above 1850$ it can test the level of 1875/1895$ an ounce and above 1900$ it can further move upward. And in MCX Gold above 284000 it can test the level of 28200/28450/28700 and Below 27300 in MCX Gold it can test the level of 27150/27000/26850. Trade by keeping the strict stop losses. Major support for COMEX Gold in the coming week is 1750$ and 1680$. Major resistance for COMEX Gold in the coming week is 1950$ and 1995$ Major support in MCX Gold is 26500 and 25200 Major resistance in MCX Gold is 28700 and 29000
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