Gold

Gold price crashed yesterday from 1342$ to 1324$. Gold dropped more than 18$ in a single day. This makes it largest drop in 2019. As said in yesterday’s video gold has made a double top which is a good sign for correction. Market corrected beautifully from there.

This seems a long due correction in market which is a healthy sign for another rally. Main point is how deep this correction could be. I would give medium term levels in weekend edition. But for now market seems to contain correction as its holding fort around 1325-1324$.

Today closing would be very crucial and a good support in this precious metal stands at 1317$. Once market break and sustain below 1317$. Then expect good pressure till 1308$- 1300$.

Good resistance in gold price stands at 1332$. If market break and sustain above 1332$. Then expect good rise till 1340$- 1348$.

Conclusion: Currently gold is in correction mode but avoid major selling. A mild selling can be done with stop loss. But stay cautious.

For Silver, Crude oil and Mcx levels watch video below.

By marafat