Gold trading above Rs 27,800 is crucial for bulls

Written by: Rajesh V
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Gold trading above Rs 27,800 is crucial for bulls
Open range breaks out (orb) – buy or sell on either side breakout and keep stop loss of another side. For target and trailing stop loss follow supports / resistances levels.

Copper – Nov:

Open range break-out levels (ORB): Rs 400 / 397.50
Supports: Rs 396.80 / 395.20 / 392.60
Resistances: Rs 400.80 / 402.40 / 405 / 406.60

Nickel – Sept:

ORB levels – Rs 1,017 / 1,005.90
Supports – Rs 1,009.20 / 1,005.90 / 1,000.60 / 992.10
Resistances – Rs 1,016.90 / 1,022.10 / 1,030.60 / 1,036

Crude – Oct:

ORB levels – Rs 4,191 / 4,140
Supports – Rs 4,154 / 4,140 / 4,116 / 4,078
Resistances – Rs 4,191 / 4,214 / 4,252

Gold – Oct:

Gold has immediate resistance at Rs 28,120 levels, On breaking above this level it may test Rs 28,225 / 28,300. Downside side gold has support at Rs 27910 / 27850 / 27740. Trading above Rs 27,800 will confirm bulls’ hand in market.

Silver –Dec:

Silver has immediate support at Rs 63,960 – 63,900 levels; trading above Rs 64,000 mark is positive sign for bulls. upper side levels are Rs 64,520 / 64,700 / 64,870 / 65,120. Silver has strong support at Rs 63,500 levels.

For positional long keep Rs 63,750 levels as stop loss on close base.

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

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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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