Saturday 18 January 2014

GOLD Weekly View...!!! 2014

In International Markets GOLD took a strong Support @1175- 1180$ and is now trading near to stiff Resistance @1265-1270$. New Bull Phase can be seen in Gold, if weekly close above 1270$. And if unable to sustain @1265- 1270$ Resistance then we may see GOLD again heading towards 1180$,

"Daily Closing Below 1180$" We may see Sharp Correction and Gold may continue its bearish Trend. GOLD is Trading near to very Important and Crucial levels and one may initiate Long GOLD if sustains above 1270$ and If Strong Reversal seen from Those levels then initiate Short Position below 1230$

Profit Play's Take on GOLD:
1.       Buy GOLD ABOVE 1280$ For Targets 1325$ and Stoploss  of 1250$
2.       Sell GOLD BEOW 1230$ For Targets 1180$ and Stoploss of 1245$