Gold (08.10.2013) traded lower as per last report dated 27.09.2013. However we witness a sharp bounce from $1280 area.
Now gold is trading around $1326 & as we can see on charts, gold is reaching to the topline of current descending channel. This area also in combination of 50% feb correction level & a parallel minor resistance. However a positive candlestick pattern suggest for more upside but the ongoing long term scenario & continue weakness on indicators suggest for a possible downside move again. On the fundamental side, any positive tone on ‘obamacare’ from US will generate panic selling in gold.
[wp_ad_camp_5]
Based on above studies, we will prefer to sell gold for downside targets around $1304 & then $1280. Only a day close above $1337 will neglect the forecast.
Gold reach to 1st target $1304 as per report dated 08.10.2013
Yet again you rocked!
s it`s correct
Gold reaches to target $1280. as per report dated 08.10.2013.
your analasis is very good. Please give me your analysis free trail and tell me monthly subcription details