May 19, 2013

  • Gold bears extending gains below 200 Week SMA. Crucial support at 1321 if gets tested price could fall towards 1250 levels as shown in the second chart with Weekly range.
  • For gold bulls 1321 should be held to avoid another fall. 
  • Hourly chart is trending down below the cloud. Possible reversal of the trend will be possible only if price starts to trade above the cloud.


All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.


Blog Archive

Powered by Blogger.

My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore