Squawk / 24 May 2016 at 11:12 GMT
hi sir how are you
whats your view about gold rate
just want to check with you july expiry gold (GCQ6) trading above 3 usd than spot gold, its after a long time hopefully so we can expect a pull back in gold rate soon? whats is your opinion sir
24 May
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Gold - Prices have continued the bearish move lower and resulted in 5 consecutive negative days. The continuation lower in prices through support has been impressive with strong momentum and shows no signs of slowing. A break of the recent low at 1244 should result in a further move lower. Trend line support is located at 1230. With our medium term bias looking to buy dips and the short term bias indicating selling interest we are faced with mixed signals. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1250, resulting in improved risk/reward. Our profit targets will be 1235 and 1230.
24 May
anilm anilm


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