Gold – We warned at 1800-1900 $. Bottom Fishing can be done now.

Gold

 

Gold Technical View :

Look for some bottom fishing at current levels of 1570 and 25600( MCX next month ) or buy Gold ETFs be ready to see another 2% cut in bad conditions.

 

We expect a good bounce of 5-7% from current levels. Stoploss 1520 $. Can move to 1610/1650.

 

WE HAD WARNED ABOUT A 15-20% correction IN GOLD PRICE AROUND 10 days and can see 1600 dollars and the current move in gold is similar to what happened to Silver from 50 dollars !!!

 

Check the link below

 

https://www.nooreshtech.co.in/2011/09/gold-possible-top-out-on-long-term-charts.html

 

Regards,

 

Nooresh

8 Comments

  1. kunal
    September 26, 2011

    what about silver nooreshsir?

    Reply
    1. nooresh
      September 26, 2011

      Hi kunaal,

      I think silver has also bottomed out and may now bounce back to 32

      Reply
  2. bhanu
    September 26, 2011

    hi Nooresh,

    you are again spot on, quick question, can i buy Apollo Hospital now?

    Reply
    1. nooresh
      September 26, 2011

      bhanu,

      yes as a defensive

      Reply
  3. Jaya
    September 27, 2011

    Hi Nooresh,
    so with Gold today (27 sep 11) at USD 1663 and silver at USD 32.17, what is your advice? Should we buy at this price and for what price expectation.

    Please revert.
    thanks.

    Reply
    1. nooresh
      September 27, 2011

      Hi Jaya,

      the trade is done right now looking for short opportunities

      Reply
  4. jasvinder
    September 27, 2011

    sir,now gold near 1650$ as u sail i shorted near 1680$ ,whr shd is best to cover shorts

    Reply
    1. nooresh
      September 27, 2011

      Cover around 1645/1620 keep stoploss of 1685 now.

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *


This site uses Akismet to reduce spam. Learn how your comment data is processed.