Disclaimer: This Blog, its owner, creator & contributor is not a research analyst and expressing opinion only as an Investor in Indian equities .He/She is not responsible for any loss arising out of any information, post or opinion appearing on this blog.Information or stock recommendations contained in this blog are for educational purposes only. Investors are advised to consult financial consultant before acting on any such information. Before acting on any old recommendations, please ensure its relevance in current circumstances.
It almost took 2 & a half year for Gold to arrive close to the mentioned level of $1020/980/oz which we anticipated on 25th June 2013 in my article @ Gold...Where its heading??? $1020/$980/oz???
In my assumption Gold is going to see downside level of upto $1020/$980/oz before it turnaround, currently around $1280/oz. This's my view as of now.
We gave a advanced view on GOLD@ Date 16th Aug 2013......Gold was trading around $1360/oz http://moneymystery.blogspot.in/2013/08/goldwhen-it-can-correct-again.html What we expected@ We expected Gold to hits level of upto $1428/oz and expected it to correct heavily from there on. It hits intraday high of close to $1433.50/oz on Aug 28th however closed below at $1413/oz where we said that it get further strong only above $1428-1430/oz closing in my 16th Aug article.
Gold currently at $1312/oz corrected almost around $120/oz.
Technically closing below $1310/oz will make it further weaker where on the downside it could see level of upto $1257/1225/oz
On 16th Aug 2012 we gave a advance view on Gold when it was trading around $1360/oz where we gave upside target of upto $1428/oz and predicted a correction from thereon. Msg dated 16th Aug 2013@ http://moneymystery.blogspot.in/2013/08/goldwhen-it-can-correct-again.html Seems like a dead cat bounce for the time being Gold likely to move further more on the upside and could correct again heavily close to $1400-1428/oz. Area of $1428/oz likely to act as tough resistance for Gold and could correct. It get further strong only above $1428-1430/oz closing. We have given both side view. What happened then@ It hits intraday high of close to $1433.50/oz on Aug 28th however closed below at $1413/oz where we said that it get further strong only above $1428-1430/oz closing. Gold hits around $1357/oz as of yesterday...corrected close to $71/oz from the assumed level.
Seems like a dead cat bounce for the time being Gold likely to move further more on the upside and could correct again heavily close to $1400-1428/oz. Area of $1428/oz likely to act as tough resistance for Gold and could correct. It get further strong only above $1428-1430/oz closing. We have given both side view.
In my assumption Gold is going to see downside level of upto $1020/$980/oz before it turnaround, currently around $1280/oz. This's my view as of now. If there's any change in view would try to notify the same as the above is a technical view. Its my personal assumption. Kind Regards, Manish Bothra
Gold likely to see a severe sell off again from the current levels of $1485/oz and on further upside around $1525/1530/oz.
These are the areas where a short position can be initiated.
On 26th Feb I talked something on both Gold & Silver. Silver already took the assumed route as thought. The time has come to elaborate Gold with some more clarity which I already mentioned to my clients way back in feb 2013. Gold currently at $1550/oz when this message posted where its certainly assumed to move further lower to $1541-1539/oz and $1530/oz where upside resistance seen at $1563/oz & $1572-1578/oz which it broke yesterday. Below $1530/oz it becomes further weak where it could drift down to $1494/1487/oz And a closing below $1487-1485/oz could take it lower upto $1428/oz Closely watch these levels and let me know if it was good or bad.
Where is Gold Headed??? Money Mystery strongly believes that Gold has series of support around $1500/oz and it will keep on bouncing. Only a closing below $1487-1485/oz will make it deep weaker where on the downside it could see level of upto $1428/oz