GOLD MCX Four Hourly Chart:
GOLD COMEX Four Hourly Chart:
WEEKLY TRADING STRATEGY:[wp_ad_camp_5]
GOLD MCX faced correction last week and due to US strong Employment Data Precious Metals in COMEX face a sell off and GOLD COMEX broke important Support @1300-1295$ and Close below it. Hence this week we may see down trend continuing. GOLD MCX is also trading near to strong Support Levels @29550 and If Sustains below it can head towards lower levels @29000. Alternatively if sustains above its Demand Zone i.e. 29400-29500-29600 it can bounce back towards 30400 and Hence We Recommend to Go Short Below 29500-29400 and Go long only if GOLD sustains Above 30400.