Thursday 28 July 2016

Gold broke resistance of 31151 upwards & entered in bullish zone.

Gold in bullish zone


As seen in attached hourly chart gold price broke the resistance of 31151 & sustained above it. Next resistance is placed @ 31341 around. Now 31151 mark will play as support as rule of polarity. If gold break R2 it can zoom up to 31800 around.
But looking @ steam of upmove , chances are bleak that it can spike up to 31800 level. Bull power indicator is placed around 200 and maintaining itself above 0 mark.
Trade according to given levels, use sl to protect capital, wish you happy trading.

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