Bullion - Technical Update

Gold has broken above the trend line & also retested the line & moved up.

There is a probability of touching previous high. Traders can keep stop loss below the trend line.

Gold is trading way above the 200 EMA as of now & long term investors can keep stop loss of it to maintain the positions.

please go through the disclaimer mentioned elsewhere on the blog.

Disclosure : I am holding the positions in above mentioned stock / commodity.

Bullion Update

Bullion after giving tremendous boost to our portfolio, has corrected a bit. In an attempt to find

next possible entry level, I had tried three parameters. Surprisingly the level around

$1100 seems to be the common support level.

The Fibonacci support( Blue lines) , Bollinger Band ( Red) & Trend line (Green) seems to be

converging near $1100.

Presently Gold is around $1130, so chances of getting around the support level are more in this

week itself.

Nothing in this post should be considered as an investment advice. Readers can draw their own conclusion about the promise and potential.

Please go through the Disclaimer.

P.S : A special thanks to YashRaj for call outs feature.

Gold : Trend Line Channel

Trend Line was broken intra day basis, but Bullion finally closed above the trend line & yet another time , trend line has saved the bulls.

Gold is moving in a channel & likely to meet the upper band around $980, currently trading at $ 952+.




Readers can draw their own conclusion about the promise and potential.

Please go through Disclaimer on this blog.

Disclosure: I may have position in above said stocks/ Commodity for myself/ family members / friends.