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 Technical Analysis Report for 18th July 2013

29 sec read

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Gold (15.07.2013) was able to recover from lower area & from long time its trading in same tight range. However we have seen some major pull backs after a small fall.

 
Now gold is trading around $1280 & as we can see on charts , its almost kissing the 50% feb correction . As the bounce from $1200 area was quite sharp , we can expect a round of profit booking either at current levels of may be around $1300 mark, which represent the parallel resistance in combination of 61.8% correction level. A supporting tradeline also following current move which suggest for a upside move in coming trading session.

Based on above studies, we will prefer to wait for a buying opportunity on lower levels & prefer to buy for possible targets around $1330 while a days close below $1240 will reject the projection.

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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