Mcx Gold Report : 8th July 2019

Insignia Consultants

New Delhi

Monday, July 8, 2019

TIME 9:10 AM IST                   

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MCX GOLD REPORT

Just trade in the technical. Use a buy on sharp dips strategy in gold and silver before the Federal Reserve chairman’s semi-annual testimony this week. I am sure that the Federal Reserve chairman will reiterate the stance of July interest rate cut.

It can be short term bears versus long term bulls for gold if there is a continuous fall. There will be a slide in gold and not a fall. There difference between a slide in prices and a fall in prices is that there can be pullback rallies in case of latter.

TECHNICAL VIEW

Gold August 2019: (previous day close/CMP Rs.34615)

o      Gold needs to trade over 34300-34400 zone to rise to 35100.

o      Crash will be there if gold trades below 34300.

o      Trend is neutral.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading.Website www.insigniaconsultants.in. Prepared by Chintan Karnani

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NOTES TO THE ABOVE REPORT

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED
APPROPRIATE STOP LOSSES PER LOT IN INDIAN RUPEEES ON THE TRADING CALLS GIVEN IN THIS REPORTTHE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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