Tuesday, April 16, 2013

Gold - Technical Update

  1. There is a possibility of prices pausing at the 200 EMA (around 24120).
  2. Most likely prices may test 22800 - 21600 near term.
  3. If we have started a bear market in Gold, then we may get sharp counter trend rallies. It may be prudent to watch out for short term oversold conditions for a bounce and to reposition in this down trend.

  1. This is the chart for international Gold.
  2. In this case the first support zone is between 1300 - 1225.
  3. But below that we may test 1030 - 930 zone, but this second zone is a medium term target.
  4. This bear market may persist for a while, since it is correcting a multi year trend.
Overall this stupendous bull run may have run its course, and we may have at best a sideways to down market on our hand.

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