Gold is not willing to go to anybody's party ....Neither Bulls nor Bears.....It is jumping up and down.....Its getting simple to trade .....Sell the rally and buy in dips.....
Gold had not recovered much on Friday from it's fall to 27053....Immediate supprt area is 27000-27054....Now trading above support area.....It has resistance at 27150-27165-27184- 27220, and then 27350.....Watch out all these levels ( Not exactly but near these levels) we might see downwards movement......
Gold below 27000 has Support are between 26953-26800.....
If Gold Break/Close below 26800 then it may continue Short term Down trend.....
Safe Traders wait for break of 27350 for fresh buying.....If Gold go below 26800 then we may see TGT near 26400....Break of 26400-26200 area will bring TGT near 25600....
My advice is hold Long positions with Trailing SL 27900.....and book positions at 27165 ( Wait for Next call then)......If SL hit then wait for next call.....
For Positional traders......Keep buying as per your capacity till 25600.......( If it comes).....
Gold had not recovered much on Friday from it's fall to 27053....Immediate supprt area is 27000-27054....Now trading above support area.....It has resistance at 27150-27165-27184- 27220, and then 27350.....Watch out all these levels ( Not exactly but near these levels) we might see downwards movement......
Gold below 27000 has Support are between 26953-26800.....
If Gold Break/Close below 26800 then it may continue Short term Down trend.....
Safe Traders wait for break of 27350 for fresh buying.....If Gold go below 26800 then we may see TGT near 26400....Break of 26400-26200 area will bring TGT near 25600....
My advice is hold Long positions with Trailing SL 27900.....and book positions at 27165 ( Wait for Next call then)......If SL hit then wait for next call.....
For Positional traders......Keep buying as per your capacity till 25600.......( If it comes).....