August 30, 2016
- Falling gold is approaching crucial support zone between 1310 and 1319. If price stays below the falling resistance line then this zone will be tested. More weakness only if 1310 level gets broken. Close back above the trend line may lead to a reversal.
- Nifty one hour chart shows the broad range in which price is trading for now. Price is moving towards the upper end of the range.
- Daily time frame shows price taking support at lower BB. Price for now is staying above 20 SMA. for now price is in bullish zone of the Range. Weakness only if price falls back below 20 SMA.
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