Dear Readers & Followers,

We are pleased to inform you about the launch of our trend trading strategies for HNI's and Bulk Quantity Traders.

Join us @ our yahoo messenger id: dc.finserv for further reference.

Best Regards,
Dreamz Consultancy


Disclaimer:


The information and views contained in this site is believed to be true and reliable , but no responsibility or liability is accepted for errors of fact or opinion . We do not accept any liability arising out of the use of the below information / articles. Reproduction in whole or in part without written permission is prohibited.






Thursday, December 29, 2011

Update On Gold!

Gold Daily Chart

 
In our previous report dated November 30th 2011, we had expected gold to drift downwards from $1750 level to $1600 level. After achieving our target of $1600 on December 14th, 2011, gold continued its downward trend and it went on to break $1532 level today (low of $1532 was made in the month of September this year). Now, we expect the downtrend to continue if it closes below $1532 levels. This would open shutters for the downside level of $1363 in the short term.

We recommend selling gold if it closes below $1532 and add position as it rises. We expect this downward rally to continue up to $1452, $1397 and $1363.

We maintain our long term trend as Bearish targeting $1100 as long as area of $1805 is protected.

Currently, gold is trading below the 200 day SMA.
Posted by Dreamz Consultancy at 6:36 PM

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)