Where To Buy And Sell Gold
ashok kamarani | Feb 17, 2017 09:05AM ET
Shown in figure T1 is the 12 year trend line (red) drawn where prices recently resisted around 1350 (closing basis). T2 is the 10 year trend line which is shown as green. Price has taken support near 1060 (closing) and then moved ahead. T3 is the trend line which is shown as black and the recent falling channel breakout where prices moved in an impulse manner till $1350.
We expect prices to oscillate in the range of $1100 - $1350 on closing basis. Any decisive break above $1350 could signal trend resuming on the higher side to $1450, $1600 and break below $1100 will open the doors further to the downside levels of $1060, $1000.
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