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Geojit Comtrade`s trading strategy on Gold
Geojit Comtrade has come out with its report on Gold
Neither the flat trading range, nor the choppiness within such range yesterday, was unanticipated, but it has upped the ante for powerful moves soon, though less expected today. A push past the recent trading range, expectedly on the upper side, is likely, though the possibility of 1762 giving away is dull. Alternatively, if 1730/33 region punctures the early attempts to rise, expect another attempt to swing higher from the 1717 region. Thus 1733- 1717 is slated to be the immediate trading range, beyond which moves would gain velocity.
TRADING STRATEGIES
Buy near 1717, TGT 1730
o Initially.
Sell on first test of 1730/33
o Brief, Reduce short if above.
Buy above 1751, TGT 1762
o Directional, but brief.
Sell below 1713, TGT 1695/69
o Choppy
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