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You are here: Home / Commodities / Will $1200 will be the support for Gold?

Will $1200 will be the support for Gold?

December 28, 2013 by Rajandran Leave a Comment

Due to the holiday season in US and Europe the volatility in stock, commodities and forex had came down drastically and it is expected to continue till the New Year Eve.This year is the first year since 1997 that gold will finish with a double-digit drop.

Gold Outlook

 
However the short term outlook on gold looks bullish with supports coming around $1197 on the intratrend hourly charts. One can maintain a positional buy mode as the level holds and reverse your position to positional shorts if the support breaks on the hourly charts

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Filed Under: Commodities Tagged With: Commodities, Gold, Outlook

About Rajandran

Rajandran is a Full time trader and founder of Marketcalls & Co-Founder of Traderscafe, trades mostly using discretionary Trading Concepts like Market Profile, Trading sentimental analysis, building timing models, algorithmic trading models. Instructs professional traders, full time traders & aspiring full time traders. Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.

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