Thursday, August 6, 2009

The yellow metal

Junaid asks:
"Is GOLD again headed to break $1000.?"
My Notes:

Gold is in a large symmetrical triangle. This means: the trend is uncertain, as the metal decides on its next direction. The good news is that a trending move should be available if and when prices move out of the triangle.
I am giving a Gold continuous futures chart here. There is a pattern of higher lows in the near term. A position trader, who wishes to take an early position can buy at current levels and keep a stop below Low2 which is around $927. This is much simpler than trying to forecast where the eventual breakout will be.


6 comments:

Manoj said...

If the equities like do rally then gold will move in a range or may come down to 850$

Sujatha said...

Again headed $1000??

So, the $ index has not yet bottomed out? if suppose $ index moved into +ve area, shall we expect downside in yellow metal?

Regards

Jatin Soni said...

thnks for ur comments abt gold...

men said...

Mr. Sudarshan, what about yesterdays fall in the market, was hoping to see something.

saket said...

Sir
i just read a report in economic times which said that special programs are designed which are quicker and faster than professional traders and could lead to our extinction what do you think?

Ketan said...

Dear Sukhaniji,

I have a few ques. and would be grateful if you can answer them please:

1) Which are the popular online Commodity trading site available to retail customers in india? Does trading in commidities involve huge investment, or can be done by modest amounts also? Also, are there any online brokerage sites that allow FOREX trading in india for retail customers?

2) Where does one get real-time and EOD feed for commodities and FOREX data?

3) Is trading in Commodities / FOREX any different from trading in Equities, if one is following Technical Analysis to trade? Will most of the popular Technical Indicators that we use in Equities work the same way in Commodities / FOREX too?

Thanks,
KK