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 mantracommodity@yahoo.com HaPpY TrAdInG.

Gold Recovery So Far Confusing.

34 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

 

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 mantracommodity@yahoo.com HaPpY TrAdInG.

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