Commodities
Friday, June 28, 2013
GOLD & SILVER IN INR
GOLD IN INR: AT CRUCIAL SUPPORT ZONE)
(Will it HOLD or BREAK?)
Gold closed at 25375 on 27.06.2013. It’s at the verge of breaking bearish H&S kind of pattern as per chart attached. It’s trading nearer to neckline i.e. around 25000 levels. Sustain & close below it will lead to sharp fall towards 21800-22000 levels on down side.
This level of (25000) is very important for Gold, it has taken earlier 3-4 times support around this level as per chart attached, and therefore, one should watch out Gold behavior at these crucial levels. Daily KST momentum indicators are also in sell showing weakness for short term.
But those who want to have an Appetite of Buying Gold at every decline may watch out Gold behavior at this crucial levels .We may get better price opportunity to buy it going ahead at lower levels in short term.
28300 is strong resistance for Gold in short to medium term.
Fact to be understood:
As mentioned below earlier, reiterating once again that according to me Gold & Silver is not looking preferred Asset class at current levels for Investment perspective for short to Medium term perspective.
My preferred Asset class will be Debt at current levels to park surplus money till the correction gets over of other asset classes. Equity looks first asset class to revive as & when this correction (Bear Market) gets over. One should keep an eye on Equity as an asset class for Investment perspective for next bull market.
SILVER IN INR: (AT CRUCIAL SUPPORT ZONE)
(Will it Hold or BREAK?)
Silver closed at 38796 levels on 27.06.2013. It’s having strong support around 39000 levels as mentioned earlier on 17.04.2013 as per chart attached. It closed just below it.
One should watch out its behavior around these levels. Sustain below it will lead to further sharp fall till 35950 levels in short to medium term.
45820 is strong resistance for silver in short to medium term.
(Will it HOLD or BREAK?)
This level of (25000) is very important for Gold, it has taken earlier 3-4 times support around this level as per chart attached, and therefore, one should watch out Gold behavior at these crucial levels. Daily KST momentum indicators are also in sell showing weakness for short term.
But those who want to have an Appetite of Buying Gold at every decline may watch out Gold behavior at this crucial levels .We may get better price opportunity to buy it going ahead at lower levels in short term.
28300 is strong resistance for Gold in short to medium term.
Fact to be understood:
As mentioned below earlier, reiterating once again that according to me Gold & Silver is not looking preferred Asset class at current levels for Investment perspective for short to Medium term perspective.
My preferred Asset class will be Debt at current levels to park surplus money till the correction gets over of other asset classes. Equity looks first asset class to revive as & when this correction (Bear Market) gets over. One should keep an eye on Equity as an asset class for Investment perspective for next bull market.
SILVER IN INR: (AT CRUCIAL SUPPORT ZONE)
(Will it Hold or BREAK?)
One should watch out its behavior around these levels. Sustain below it will lead to further sharp fall till 35950 levels in short to medium term.
45820 is strong resistance for silver in short to medium term.