Technical view by Nooresh

Gold — Long term uptrend under threat.




Gold --- Long term uptrend is under threat.


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{ 8 comments… add one }
  • Vikas Agrawal December 14, 2011, 10:16

    basically .. gold chart is varying according to currency u take as base.. it $ term it may look weak .. but if u see re. wise u will feel it is bullish ..

    and if gold has tgts of 1300 in $ terms means .. $ index has 88 tgt & equities will go down to 4000 nifty

    • nooresh December 19, 2011, 21:14

      Hi Vikas,

      The commodities move in their own way. Dollar Index did nothing major last few months but nymex crude did fall to sub 80 levels.

      So all the co-relations go for a toss. Better to stick with pure technicals on each of them.

      Gold is giving signals of heading towards a major breakdown.

      Nifty may or may not go to 4000 but majority of the stocks are already at similar levels.

      • Vikas Agrawal December 20, 2011, 09:58

        Thanks for the reply nooresh .. ya my above comments were based past correlations which might or might not work .. gud call on gold .. hoping it soon reaches ur 2nd/3rd target too .. Keep the good work going ..

        • nooresh December 20, 2011, 11:13

          Yes vikas, Co-relations have been changing very swiftly nowadays :(

  • shree December 14, 2011, 21:32

    Gold broke the long term support of 1600.

  • karthik December 14, 2011, 22:38

    Good call Nooresh bhai.

  • MILAN December 16, 2011, 08:37

    ur chart on Gold has been pasted at one other site


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