In my last post on Gold on 16th November 2013 I wrote
that, “All long trades on gold should keep 1270 as a strict stop loss on a weekly
closing basis. If gold moves above 1350 it may go to 1425 and 1475 levels. On
the contrary, If gold fails to move up in the current month than it is highly
likely that we will see a sharp downside in gold and it may fall towards 1000
USD levels.”
Gold and silver both broke my
stop loss and fell below to previous lows. Although it is too early to take a buy call on them, I think that both
metals are poised to move up sharply.
If we look
at the first chart of gold It seems that gold will bounce from here. Traders
can keep a stop loss of 1180 and go long on gold.
Similarly traders
can keep a stop loss of 19 and go long on silver at cmp of 20.10
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