epicresearchindore
Epic Research
For the next week we expect gold prices to find Support at 31,400 – 31,380 levels. Trading consistently below 31,370 levels
would extend the current fall initially towards the strong support at 31,100-31,070 and then finally towards the major support at 30,600 levels.
Resistance is observed in the range of 31,950-31,990 levels. Trading consistently above 32,000 levels would lead towards the strong resistance at 32,430 levels, and then finally towards the Major resistance at 33,300 levels.
MCX / Spot Gold Trading levels for the week (03.12.2012 to 07.12.2012)
Trend: Down
S1-31,210 / $ 1696 R1-31,950 / $ 1724
S2-30,890 / $ 1677 R2-32,430 / $ 1743
Recommendation: Sell MCX Gold December between 31,950-31,980, SL-32,301, Target -31,250/30,900
would extend the current fall initially towards the strong support at 31,100-31,070 and then finally towards the major support at 30,600 levels.
Resistance is observed in the range of 31,950-31,990 levels. Trading consistently above 32,000 levels would lead towards the strong resistance at 32,430 levels, and then finally towards the Major resistance at 33,300 levels.
MCX / Spot Gold Trading levels for the week (03.12.2012 to 07.12.2012)
Trend: Down
S1-31,210 / $ 1696 R1-31,950 / $ 1724
S2-30,890 / $ 1677 R2-32,430 / $ 1743
Recommendation: Sell MCX Gold December between 31,950-31,980, SL-32,301, Target -31,250/30,900