-- Published: Tuesday, 4 March 2014 | Print | Disqus
- Developments in Ukraine will be the key
- Gold has to trade over $1348 to be in an intraday bullish zone
Whether Ukraine will be Russia's might or Russia's plight will be known in the coming weeks. A Russian plight from Ukraine will result in the death of communism from the world. These NATO guys and their capitalist view will be there in Russia also if there is a Russian plight from Ukraine. Long term political implications will be there for Russia even if there is no war in Russia.
Better than expected economic data releases have failed to have any big impact on gold as the focus is only on Ukraine. Bulls just hope that gold is able to break and trade over $1376 in the next two weeks. In case gold is unable to break and trade over $1376 in the next two weeks, then gold will fall to $1230 and $1145 (this is just a technical view).
TECHNICAL VIEW
COMEX GOLD APRIL 2014 – current price $1351.20
Bullish over $1342.00 with $1359 and $1378.00 price target
Bearish below $1336.00 with $1324 and $1314.00 as price target
Neutral Zone between $1336.00-$1342
Break point: $1348.30
- Gold needs to trade over $1348 to target $1362-$1379
- There will be sellers only if gold trades below $1348 either in UK session or US session to $1319 and $1306
MCX GOLD APRIL - prices in Indian rupees below
Gold needs to trade over 30598 for the rest of the week to target 30878-31030. There will be sellers if and only if gold trades below 30598 in US session or UK session any day. Key intraday support is at 30487.
Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Prepared by Manan Somani
Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.
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NOTES TO THE ABOVE REPORT
UK session starts around 2:30 pm Indian Standard Time (+5:30 GMT) -- after the release of LME daily inventories
US session starts at 7pm pm Indian Standard Time (+5:30 GMT)
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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-- Published: Tuesday, 4 March 2014 | E-Mail | Print | Source: GoldSeek.com
