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 outlook for 20 Feb 2012

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gold

 
Gold (20.02.2013) respected our analysis & moved lower. Check our last report here 

Now gold is trading around 29990 ($1608) & as we can see on charts, after a sharp fall gold taken support from $1600 area which also represent the 138.2% feb correction level of last ascending wave. However there is still space available for downside but oversold indicators , a most probable positive divergence force us to stay away till a clear view. Candlestick pattern is still negative while indicator are over sold.

Based on above studies, we will prefer to stay neutral & prefer to wait for a buying opportunity at current level or may be on some little lower level.

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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