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GOLD (Spot) for Current Month Series

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Our Analysis in Gold: LONG positions above 1322 with 1365 & 1375 as next targets.
Alternative scenario: The downside penetration of 1322 will call for a slide towards 1305 & 1295.
Comment: The price is supported by a rising trend line, the RSI is bullish and calls for further advance. US and China trade war is most likely to increase the demand for the gold and silver both. We are expecting the up trend to continue in both precious metals.

Gold Analysis

Trend: Short Term Bullish; Medium Term Bullish

Pivot: 1322.00

Key levels Comment:
1396* Fibonacci projection
1375* Fibonacci projection
1365** Intraday resistance
1345 Last traded price
1322** Intraday pivot point
1305** Intraday support
1295* Intraday support

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About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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