fbpx
  Previous   Next
HomeBusinessGold may reverse lower from either 1794 or 1804

Gold may reverse lower from either 1794 or 1804

Gold in Asian session currently traded at 1790, it will face Resistance at 1793.84/1794.22 today, if able to clear this, then 1803.91 will provide big hurdle for southward reversal.

In previous article already mentioned that, watch price action at 1771.86, yesterday made a low of 1772.24 and quick upward reaction has been seen towards 1787.  

Today’s support is 1780.68,it’s provide a bounce towards 1794,expects seller comes at 1794 for 1781 again,if clear this hurdle then 1804 may be next reversal point.

For, now 1772 act as good support, as long as this level respect bulls are well capable for 1794 then 1804.Any violation of this would be confirmation of 1742/1736.

One can expect southward reaction from 1804, for exit into trade, either on said Target 1736 or  have an eye on weekly close, if weekly close above1802.62, then I would be a buyer of Gold for monthly upside Target 1847.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More News

India Has Two Major Obstacles In Dealing With China: Jaishankar 

Speaking at the media summit, Mr. Jaishankar said asserted that India has two enormous handicaps in dealing with China including the defeat in the...

Assam CM’s Dig At Rahul Gandhi Says Rahul Gandhi Looks Like Saddam Hussain

Assam chief minister Himanta Biswa Sarma in his latest dig at Rahul Gandhi said that the Congress leader's looks have changed and he looks...

Nearly 75% Twitter Employees Layoffs In A Month, Will Elon Musk’s New Policy Be Able To Assure The Employees

After cutting nearly 75% workforce of Twitter in less than a month since the takeover, Elon Musk is now reported to have kept the...

RELATED NEWS

Keep Your Money Safe, Jeff Bezos Warns Economic Recession

Amazon founder Jeff Bezos recently warned consumers and businesses that they should consider postponing large purchases during the holiday season as an economic recession...

G20 Presidency Is A Proud Occasion For Every Indian: PM Modi

Indonesia President Joko Widodo handed over the G20 Presidency to India at the closing ceremony of the 17th intergovernmental summit in Bali on Wednesday....

Unmanned Trains Will Run Soon In India

Bharat Electronics Ltd (BEL) has signed an agreement with Delhi Metro Rail Corporation Ltd (DMRC) to jointly develop an indigenous communication-based train control system...