Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on [email protected] HaPpY TrAdInG.

Gold Recovery So Far Confusing.

36 sec read

Gold (23.03.2015) moved higher as mention in our last article just around swiss gold referendum & posted a higher above $1300 mark. However it felt sharply & reached to the previous bottom around $1138.

Now gold showing recovery from previous bottom level & also broken from a shot term descending channel as shown in picture. However this breakout  is not supported well in terms of volume & that force us to stay concern about this upside rally. The strength of this rally will be tested on $1205 once.

On fundamental side a clear signal from FED to not raise the interest rate very soon & over bought conditions in dollar could support further.

Gold 4 Hour Charts
gold 4 hr

[wp_ad_camp_5]

 

Based on above studies, gold probably will more higher towards $1205 in coming trading session & will test the strength on this mark.

Note – Above technical analysis is not a buy/sell recommendation. For recommendations Contact Us

MCX  levels ->    S2(25900)         S1(26010)        cmp(26150)       R1(26330)        R2(26510)

Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on [email protected] HaPpY TrAdInG.

The Iran-Israel Tension and Crude Oil Trend Analysis

With ongoing tensions in the Middle East, particularly between Iran and Israel, the crude oil market finds itself once again at the mercy of...
Rajandran R
3 min read

MCX to Revolutionize Gold Trading with the New 10-gram…

The Multi Commodity Exchange of India (MCX) is poised to make waves in the commodity trading landscape with its forthcoming launch of a 10-gram...
Rajandran R
1 min read

One Reply to “Gold Recovery So Far Confusing.”

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More