Wednesday, 7 December 2011

TODAY FREE COMMODITY TIPS

MCX Gold February as seen in the weekly chart has opened above the R1 levels at 28830 levels and then rallied sharply breaking both the resistances , but could not close above the crucial resistance at 29420 levels. For this week we expect gold prices to find resistance at 29420-29460 levels. Trading consistently above 29470 would continue the rally initially towards 29730 levels and then finally towards 30090 levels.
Support is now observed at 28830-28730.Trading consistently below 28720 levels could trigger a sharp correction initially towards 28245 levels, and then finally towards 27456 levels

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