INR will correct:-
Looking at the current INR chart and the pattern forming thereof, I think INR will move sharply up to 45.30 in days to come and there is a high possibility that 45.50 -46.00 will be broken. If that happens INR will sharply move up to 49 -50 levels.
Following is a weekly chart of gold. It also indicates that gold is near the upper end of the channel, I believe that gold will correct from here.
If we look at the daily chart of gold we can see that gold is taking a support at 1480 levels. Once the leaves are broken gold can fall down to 1250 levels. Further downfall can not be ruled out. Therefore I believe that investors should not go long on gold at these levels. I will not advice investors to sell gold despite a 15% -20% down move because of uncertain global economic scenario. I am a long term bullish view on gold and therefore advice investors to go long at lower levels.
Looking at the current INR chart and the pattern forming thereof, I think INR will move sharply up to 45.30 in days to come and there is a high possibility that 45.50 -46.00 will be broken. If that happens INR will sharply move up to 49 -50 levels.
INR DAILY CHART
Gold:- Finally some good news for wanna be gold investors. It seems that Yellow metal have peaked out. Following is the Yearly chart of gold and we can see that gold have moved up to the upper end of the channel. This implies that upside form current levels is going to be limited.
Gold Yearly Chart
Following is a weekly chart of gold. It also indicates that gold is near the upper end of the channel, I believe that gold will correct from here.
Gold Weekly Chart
If we look at the daily chart of gold we can see that gold is taking a support at 1480 levels. Once the leaves are broken gold can fall down to 1250 levels. Further downfall can not be ruled out. Therefore I believe that investors should not go long on gold at these levels. I will not advice investors to sell gold despite a 15% -20% down move because of uncertain global economic scenario. I am a long term bullish view on gold and therefore advice investors to go long at lower levels.
Gold Daily chart
No comments:
Post a Comment