MTECHTIPS MCX GOLD future predictions and trading
strategy :-
Today MCX gold future below 30000 tumble on
weak economic news and strong dollar index.for tomorrow equity markets may open
weak as us market trading lower and dollar index reversal will again make rupee
weaker.so as comex gold recovering now and weaker rupee may recover some of the
losses in beginning of trade.so traders hold long those brought on fall for
minimum target of 29875-29950.gold comex around 1550 made double bottom and
that may show effect technical for for next week.on daily chart gold showing
weekness is at low side 29,350!!
MCX SILVER future predictions and
trading strategy :-
mcx silver future tumbled 52000 today
and closed at 51795.for tomorrow if opens above 51955 then go long for minimum
target of 52355.on daily chart silver is oversold and last low was 51580 and
here also we see double bottom like scenario.below 51,500 positional target
comes around 49,500 and 48500 while if hold 51500 then rally upto 54,000 is
possible once again. So keep watch at this levels
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