Commodities
MONDAY, APRIL 27, 2020
GOLD
GOLD:
VIEW POINT:
GOLD IN INR
CMP- 46191 (27.04.2020)
(OUT PERFOMING IN THIS ECONOMIC RECESSION):
(BULLS IN FULL CONTROL FROM MEDIUM TO LONG TERM PERSPECTIVES AS AN ASSET CLASS):
BUY GOLD IN CMP/DECLINE OR CONSOLIDATION TILL IT REVERSES:
GOLD in INR closed @46191 levels on 27.04.2020. It's in extending in wave-III as per chart attached. It looks like only Asset class which it out performing at current levels. It has made a high of 47327 levels in recent rally. It can extend towards targets in the range of 50000-51500 levels in short term.
It has strong support around 40000 levels in short term, till it holds any kind of decline in buying opportunity in GOLD IN INR from trading perspectives.
Overall medium to long term wave counts of GOLD IN INR also bullish & very strong. All Monthly & Quarterly indicators are strong BUY & indicating very strong & powerful BULL Market in GOLD.
38300 is strong medium to long term support/Reversal zone for GOLD, till it holds one can expect higher levels targets in the range of 56000-58000 levels in GOLD
In term of GOLD IN USD , it has strong support around $1450 levels. Sustain & close above $1795 levels will lead to sharp rally towards $1920 ( 2011 high) & $2060 levels in short term.
Any kind of decline is buying opportunity in GOLD from medium to long term perspectives. GOLD is the Asset class is going to take lead & outperform in this Economic recession.
One should BUY GOLD at CMP or any kind of decline or consolidation till it reverses in short to medium term as an Asset class.
VIEW POINT:
GOLD IN INR
CMP- 46191 (27.04.2020)
(OUT PERFOMING IN THIS ECONOMIC RECESSION):
(BULLS IN FULL CONTROL FROM MEDIUM TO LONG TERM PERSPECTIVES AS AN ASSET CLASS):
BUY GOLD IN CMP/DECLINE OR CONSOLIDATION TILL IT REVERSES:
GOLD in INR closed @46191 levels on 27.04.2020. It's in extending in wave-III as per chart attached. It looks like only Asset class which it out performing at current levels. It has made a high of 47327 levels in recent rally. It can extend towards targets in the range of 50000-51500 levels in short term.
It has strong support around 40000 levels in short term, till it holds any kind of decline in buying opportunity in GOLD IN INR from trading perspectives.
Overall medium to long term wave counts of GOLD IN INR also bullish & very strong. All Monthly & Quarterly indicators are strong BUY & indicating very strong & powerful BULL Market in GOLD.
38300 is strong medium to long term support/Reversal zone for GOLD, till it holds one can expect higher levels targets in the range of 56000-58000 levels in GOLD
In term of GOLD IN USD , it has strong support around $1450 levels. Sustain & close above $1795 levels will lead to sharp rally towards $1920 ( 2011 high) & $2060 levels in short term.
Any kind of decline is buying opportunity in GOLD from medium to long term perspectives. GOLD is the Asset class is going to take lead & outperform in this Economic recession.
One should BUY GOLD at CMP or any kind of decline or consolidation till it reverses in short to medium term as an Asset class.