Gold future daily chart analysis
Gold future on Friday closed at 32140 with huge gains. On daily chart Gold future price trend and also momentum is very strong bearish. In this week we saw 2 up days for gold while 3 down days. Gold prices after breakdown around 33300 hit my bearish target zones of 32600 and then 32100 then we saw low up to 31600. But now gold prices are in full recovery mode and came above 3k level. Here above 32000 level expect recovery to continue towards 32500 and then 33200 rupee level. Below 32k, expect super bearish trend and lower levels up to 31300 and below.
Gold future weekly chart technical analysis
Gold future on weekly chart showing big gain for this week. This was the first gaining week for Gold prices after 3 weeks continues sell off. Gold future hit my 2019 investment target of 33000 and now prices retracing towards 30900 support zone. Below 30900, gold will be best investing opportunity with price target of 34400.
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