Daily Bullion Market Alert

June gold closed higher on Thursday renewing the rally off May’s low. The high-range close sets the stage for a steady to higher opening when Friday’s night session begins trading. Stochastics and the RSI are bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 1416.20 are needed to confirm that a short-term low has been posted. If June renews this month’s decline, April’s low crossing at 1321.50 is the next downside target. First resistance is the 20-day moving average crossing at 1416.20. Second resistance is May’s high crossing at 1487.20. First support is May’s low crossing at 1336.30. Second support is April’s low crossing at 1321.50.
Continue reading by click on : https://www.rsbl.co.in/pdf/report.pdf
Share on

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.