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HIREN GARASONDIA—-COMEX—-GOLD: MAY 20 REVIEW (INTRADAY STRATEGY-DOWN -2% GOLD TODAY)

Gold: May 20 review (Intraday strategy for Gold )
Technical Review:
Gold prices traded $1755.50 range at morning Asian hours.
In last few days, Gold prices traded in both directions like up side and down side. Prices not break below support and resistance levels. If Gold holds above $1749.50 level, we will expect some more rise $7-10, and keep near R1 1764.20(23.6% Fibonacci level). but max resistance level $1775.80(Weekly high), while on the opposite direction if prices break below 20SMA $1719.88. We will see down trend $1692.10(Last week low).
But for intraday trading point of view, make short positions in Gold at cmp.
Expectation of Gold market down more than -2% today from current levels.
Intraday strategy for Gold is given below:
Entry point – $1755.50 – $1758.00
And keep R1 $1775.80
And wait S1 $1719.88
And wait S2 $1700.00
And wait S3 $1692.10
Intraday and Weekly Gold view: Negative trend.
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About hiren_garasondia

About me--HIREN DHANJIBHAI GARASONDIA, SEBI registered research analyst from India(8+ years of experience).I am posting regularly on many trading sites.About calls--Intraday and holding calls in commodities segment(Gold and Silver) and currency segment(EU, GU, UJ and DX). Our main strategy is to provide good accuracy level. Please work with strict SL for short term TGTS.Our main focus are on USD, Gold and Silver calls.Please thoroughly analyze our post before trade. We will make sure that you have landed up at the right place.For more information, +91-972-516-7675(WhatsApp)

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