Gold has target at USD 1500: India Forex
India Forex has come out with its technical outlook on Gold and Crude.
April 24, 2012 / 13:00 IST
India Forex has come out with its technical outlook on Gold and Crude.
Gold is trading flat at 1635 levels of an ounce. Gold declined on account of stronger dollar effect. The Yellow metal is experiencing a resistance at 1652.94 levels (21 days daily EMA) while a Fibonacci daily retracement support is being experienced at 1629 levels. Overall look at a range of 1-3 months at 1550-1630 levels. Overall Target 1500.WTI Crude is currently trading in red at 102.99 levels for a barrel. Crude oil is trading at a 2 day low after US stockpiles rose to 11 month high. Technically speaking oil is experiencing a strong support at 103.83 levels with the 21 days and 55 days daily EMA converging. It has a psychological resistance at 105 levels. Overall range of 100-105 with bearish bias.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
