COMEX Gold is in an upward consolidation phase. Last week COMEX Gold sustain above
the level of 1340 and able to sustain it. In the coming week 1310$ will act as a major
support in COMEX Gold, if COMEX Gold sustains above 1368$ an ounce then above 1370 $
an ounce it can touch the level of 1390$ an ounce and if COMEX Gold sustains below
1300$ then it can slightly correct and test the level of 1270$ an ounce.
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above
1368$ an ounce, then above 1370$ it can test the level of 1390$ an ounce and above
1400$ it can further move upward. Trade by keeping the strict stop losses.
Major support for COMEX Gold in the coming week is 1310$ and 1260$.
Major resistance for COMEX Gold in the coming week is 1400$ and 1435$
Major support in MCX Gold is 19700 and 19300
Major resistance in MCX Gold is 20550 and 20850