MCX Gold Daily Chart Made Bear Phone Chart Pettern or Tripal Top Formation.
MCX Gold Support 30800, Will Trap Buyers or Sellers Tet’s See Till 15-06-2018
Trade Always with Tecnical Trand or Level.
“No Magic, No Miracle, Just Power of Level”
Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical Team
Mobile No. 9582247600 & 9899900589
GOLD PRICE RESPECTING THE DOWNTREND OR NOT?
Gold continues to drift lower, with the downtrend from the April 11 high still in control. Markets are opening the week with a mild risk-on tone as concerns over EU political unrest take a back seat for the time being. Italian and Spanish bond yields – an indicator of risk – are both drifting lower while US Treasury yields push higher ahead of next weeks expected 0.25% US interest rate hike. Friday’s strong US employment and wages growth continue to point to a strong US economy and potentially two further rate hikes this year, making a total of four or 1%. This week’s G7 meeting may deliver some volatility in the shape of trade war rhetoric.
The May 21 low at $1,282/oz. remains the target on the downside with last Friday’s low around $1,289/oz. the first level of support. On the upside a break and close above the downtrend channel around $1,298/oz. would open the way for the recent double tops around $1,308/oz. – Neal Bhai Reports (NBR)
Post Updated 10:31 PM
