Gold was in a short term correction for the last thirty days; it has found support around 29000 levels. I see an upward run of almost 2000 points from this level. If the market successfully breaches the level of 30,000 it will definitely try to touch 31,000 levels.
The supports for this upward move are mapped out on the chart below at the level of 29100 & 29400.
Gold 10GM – 1 Kg daily chart.
The supports for this upward move are mapped out on the chart below at the level of 29100 & 29400.
Gold 10GM – 1 Kg daily chart.
In long term run gold is still bullish, 30500 & 31300 are important resistances, gold might dwell in these levels for couple of weeks but later it will head for new highs.
Important resistances are mapped out on the chart below.
Gold 10GM – 1 Kg Weekly chart.
Important resistances are mapped out on the chart below.
Gold 10GM – 1 Kg Weekly chart.
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