The Greece bail out package has been discussed by the EU day before yesterday.
It seems as the on going rally on precious metals have been halted for time being.
In the daily chart, it can be seen that at $34.5, US spot has faced stiff resistance and for last 5 sessions, it has been forming the lower tops.
The momentum indicators also suggest selling pressure for a day or two.
However, it is very important to note that if it crosses $34.5 (on higher side), one must exit the selling position as the Weekly chart has not turned negative yet.
On weekly basis, an upside spurt is still on cards. For the MCX, the selling position can be created with strict stoploss of 57650.
It seems as the on going rally on precious metals have been halted for time being.
The momentum indicators also suggest selling pressure for a day or two.
However, it is very important to note that if it crosses $34.5 (on higher side), one must exit the selling position as the Weekly chart has not turned negative yet.
On weekly basis, an upside spurt is still on cards. For the MCX, the selling position can be created with strict stoploss of 57650.
No comments:
Post a Comment