Gold looking lower?

Now sitting on its weekly trend line,Gold in danger of breaking down into an intermediate downtrend if it closes below 421.Silver looks the same....Interesting!
Hello Saint,
Ur chart details are also read by me and the apttern look very bearish and more cash flow from FII are expected if this bearish trend in Gold persists.

Thanks for ur lovely information,
with regards,
Hi Beda,
After these many years trading the markets,find it easier to trade than posting a chart......keeps coming as filesize too big,etc.Sorry...but shall try to find a way to go about doing it.

thanks for the reply
is it worth shorting gold/CMP 6160 or silver CMP 10571(both june futures ncdex)
or short at higher levels
Depends on timeframe......if you are playing for the longer time frame,now is still SITTING ON HANDS time,do nothing.Personally would wait for a confirmation downmove first b4 both Gold and Silver.
buy mcx gold futures at current levels with a target of 6140 with in few days,gold is having support at current levels
gold will head lower in the near time and then up up and away..
if u want more % gains buy silver .. i will not be suprised if silver reaches $ 70 in 2009 - 10 ....

be weary of shorting both .. both r extremely volatile... i believe the US $ is going down over long term hence gold will go up..

I will not short both.

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