Market Analysis: The pair is trading inside a channel in the daily frame. The market has tested the resistance and is now starting to move towards the channel support. But still the market is in a long term buy trend, After testing the support can expect a long uptrend to the 1350.00 level. So lets wait and see what the market does in the coming days. Cheers!
Komen
mlbo
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oh. that was a strong restistance. haha. support and restistance is just an idea. think it does not exist in that way we wand it to.
Kishore
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@mlbo, Yeah it backfires us sometimes. Thanks for the comments. Cheers!
paulsubbureddy
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Very good analysis Kishore in Gold. One should have gone on short once it reached the resistance level with minimal Stop Loss as you taught us in the class.
With regards,
Paul Subbu Reddy.
HusainBadshah
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Kishor can I take Short position now cmp 1323 for target 1310
Kishore
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Yeah looks good, For short but still its a late entry. I can't comment on that!