Gold can rally further if it breaks Rs 28,400: Rajesh V

Written by: Rajesh V
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Beyond Rs 28,400; Gold will rally
Rajesh V has recommended the following trade action that can be set by a commodity trader.

Gold – Oct:

Gold will find that Rs 27,900 levels has given good support in close base; gold looks good in coming days. Break above yesterday"s high of Rs (28,304) & Rs 28,400 will give fresh rally for gold.

To set trading on September 14 – gold has immediate resistance at 28,370 levels, above Rs 28,370 it may test Rs 28,460 levels.

Silver – Dec:

Silver has range bound between Rs 66,400 & 64,000; yesterday it has taken support at bottom level at Rs 64,450 and went up.

On September 14 – it has immediate resistance at Rs 65,900 levels above this it will test Rs 66,300; overall it looks positive.

Copper – Nov:

The Rs 414 will remain strong support for copper but it has to close above Rs 423 for further rally.

To set trading targets - if it opens above Rs 421.10 will be positive sign for copper;

Supports – Rs 418.60 / 417.60/ 416
Resistances – Rs 421.10/ 422.65 / 425.20


Rajesh V. Ravanappan is a practitioner of technical analysis. He has eight years of experience in broking industry. He is a contributing writer for www.goodreturns.in. You can contact him at rajeshvravanappan (at) gmail (dot) com

If you would also like to contribute or send us a feedback, then e-mail to money (at) oneindia (dot) co (dot) in

GoodReturns.in DISCLAIMER: The views expressed in this article are the views of the author and do not reflect the views of our company. GoodReturns.in does not take any responsibility for any losses incurred by investors who take their cues from the above article.

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