We signaled an exit from Gold on the 25th of Jan 2013 at the break of 30370 and gold has since lost about Rs.10,000 from it's life time highs.
Recently Gold has shown some developments, it has established a signal level or resistance level at 28288, which says that if Gold breaks above this level we will see a up-move beginning in it.
But so far Gold has remained downwards, so let's talk about supports available in Gold. An important support that Gold is at right now is 24700, this support level needs to be held for some time to begin an up move. If Gold breaks below 24700 then the next support level below this is at 22450 at which we will see Gold holding base for a long time.
Supports - 24700, 22450
Resistances - 28288
View the video below, discussing the resistance levels & the future of Gold.
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