DAILY CHART OF GOLD
GOLD WEEKLY CHART
GOLD WEEKLY CHART
- First chart is the daily chart of gold with 50 day moving average.
- Price has started to move away from the 50 DMA.
- Next important support level in daily time frame is at 1314 area.
- Weekly chart too gives a bearish picture with price breaking 20 week moving average.
- But the trend line in weekly chart shows a correction in a larger bull market. Unless price breaks below the weekly trend line this will end up as a pull back followed by another up move.
- SILVER LOOKS WEAK
- Price is trying to break above 1283.50
- Price sustaining above this level will favour bulls.
- Price getting resisted here may trigger a correction again.
- SILVER LOOKS WEAK
- NF Hour chart with a rectangle pattern.
- It seems NF will remain range bound for some time to come.
- Only a decisive break of 5750 or 5620 can give direction.
- Nifty is moving in a sideways direction for the past few day's.
- Break of either the 5 day high ema or the 200 Sma can give good direction.
- Price and stochastic are hinting at an oversold bounce. to be confirmed by a close above 5750 - 5770 area.
- SILVER CHART ANALYSIS
