comex gold cmp 1070$ will it kiss 2000$????

 COMEX GOLD FEB CMP 1070 : FROM THE ABOVE WEEKLY CHART WE CAN SEE PRICES ARE MOVING IN A CHANNEL FROM THE PAST TWO YEARS AND RECENTLY PRICES HAVE TAKEN SUPPORT AT THE LOWER CHANNEL (TI) AND PRICES ARE BOUNCING HIGHER AFTER MAKING A LOW OF $1051.1 IN MACD ALSO WE CAN SEE THERE IS A POSITIVE DIVERGENCE IN MAKING WHICH COULD GET CONFIRMED ONCE PRICES MOVES ABOVE $1100. FROM JUST FOLLOWING THE CHANNEL, WE GET A TARGET OF UPPER CHANNEL, WHICH IS AROUND $1200. ONCE PRICES CROSS THIS YEAR’S HIGH AT $1308 WE CAN SAY PRICES COULD GO TOWARDS 1550 IN LONG TERM AND IT COULD HAVE A POTENTIAL TO MAKE A NEW HIGH TOWARDS $2000 ALSO. FROM THE DAILY CHART ALSO WE CAN SEE A POSITIVE DIVERGENCE IN MACD WHICH HAS BEEN CONFIRMED AND ALSO THERE IS AN ENDING DIAGONAL PATTERN WHICH PRICES HAVE BROKEN ON THE HIGHER SIDE SO IN TERM WE COULD SEE A BOUNCE HIGHER TOWARDS $1140/$1150 ZONES.




VIEW:- FROM THE ABOVE ANALYSIS WE SUGGEST TO BUY COMEX GOLD AT CMP 1070 FOR SHORT TERM TARGET AT $1140--$1150 ZONES AND FOR THOSE WHO WANT TO TRADE FOR MEDIUM TERM TP LONG TERM THIS COULD BE THE RIGHT TIME TO BUY FOR TARGETS OF $1200,$1300,$1550 AND $2000.FROM INVESTMENT PRESPECTIVE, ALSO GOLD LOOKS A GREAT BUY FROM CURRENT LEVELS, RISK FOR THIS VIEW WILL BE AT A CLOSE BELOW 1050 OR IF ANYONE CAN KEEP A BIGGER STOP, THEY CAN KEEP AT A CLOSE BELOW 1000. IN DOMESTIC MARKET, ONE CAN BUY GOLD AT CMP 25400 AND FOLLOW COMEX LEVELS FOR STOP LOSS AND TRAGETS GIVEN ABOVE. AT CURRENT LEVELS, THIS STRATEGY MAKES A GOOD SENSE BECAUSE OF FREAT RISK TO REWARD RATIO AS WE ARE RISKING $20 FOR A SMALL STOP AND EVEN IF WE KEEP A BIGGER STOP IT COMES TO AROUND $70.



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