GOLD-I ended at $ 26887 on 15 Oct 2011 at MCX with formation of Small White Candle on Daily Price Chart. On Daily Price Chart GOLD-I is showing weakness. It has now strong Support at $ 26378 & Resistance at $ 27082 for short term. As per Montly/Weekly Price Chart, GOLD-I is gaining momentum and may touch the Price Target of $ 30169.40 by Nov 2011.
Editor’s Note : This Article is written by Vina S Singh, Senior Chartist at www.niftynext.com , which is a Technically Based Quant Research Firm at M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks, trades at NSE. You can reach the Chartist here mail@niftynext.com . We are Using AmiBroker Charting Software(V-5.47) & AmiTool-PowerScan.
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