November 18, 2014

GOLD Chart analysis

  • GOLD Daily nearing 50 Day sma.
  • For Bulls of Gold Weekly Doji at the bottom is looking god for now.
  • For this up move to sustain its crucial for Price to stay above the 1180 zone which is shown in the last chart.

NIFTY Chart analysis

  • NIFTY Yet to hit the rising resistance line
  • MACD Has negative divergence which was discussed in earlier posts But MACD Lines yet to give sell signal.
  • Last chart shows a rising support line staying above this bulls will continue to remain strong. Mild weakness on breaking and closing below this line.