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 [email protected] HaPpY TrAdInG.

Gold technical outlook – Unable to sustain on higher levels.

28 sec read

Gold (27.09.2013) traded with high volatility as a result of conflicts between fundamental & technical.

Now gold is trading around $1324 & as we can see on chart, it has given up all the upside move which came after the FOMC meeting result. However technical it was not a correct move. As we can see gold is not broken the lower trendline of the minor ascending channel started after FOMC & this suggest for a downside move to continue. The upside move was also limited by 61.8% feb correction level & gold was unable to provide any day close above this area. Candlestick pattern is negative with indicators.

gold
[wp_ad_camp_5]

 
Based on above studies, we will prefer to sell gold some downside targets around $1305 & then $1296. Only a day close above $1342 will neglect the scenario.

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 [email protected] HaPpY TrAdInG.

Gold Technical Analysis week starting Dec 5th 2011

Gold has been trading in a narrow range since November. It just oscillates between 1000 point range of 28300 to 29300. At the same...
priya
33 sec read

Gold Plunges to 6 Weeks Low and trading below…

Gold crashed below 4 weeks low today as the dollar's rally cut demand for the metal as an alternative asset and there is a...
Rajandran R
20 sec read

Gold – Sell Signal on 5EMA High-Low Charts with…

The trend of gold is tremendous, since july 2011 gold has gained nearly $400/ounce and the raise in gold due to poor global macro...
Rajandran R
54 sec read

5 Replies to “Gold technical outlook – Unable to sustain on higher…”

  1. sir,
    still gold below 1342$. yesterday it touched 1345$ levels, but couldn’t sustain above that level. so how can we trade it in coming sessions? any important resistance or support levels?

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More