Gold comex : intraday trading range is between 1580-1660 , currently trading at 1627.90. Yesterday gold broken rising trend line support of ascending triangle and low made 1595.77 and we were expecting 1595 as 1st support after break below 1630 now as per this breakout next major support seen at 1502 levels. Very short term trend is down and 1640 is looking very important intraday resistance above 1640 gold may rise up to 1660-65 zones overall counter is looking weak and a retest of 1580 is possible during intraday trading. Below 1580 no major support before 1532-1502.
LIC HOUSING FINANCE settled at 321.90 up by 5.78% on Tuesday. Stock had been staying in a consolidation phase that took shape of an ascending triangle and in today’s session it broke through the resistance line of this triangle consolidation and settled well above key resistance of 312 suggesting dominance of bulls. Stock has been staying above its 9 days SMA on daily chart keeping a short-term bullish trend in picture. Stochastic is now approaching overbought territory along with bullish cross above its signal line suggesting a strong bullish momentum. MACD has been staying in positive territory and now its parting upward from its signal line suggesting development of fresh bullish momentum. Direction and momentum are two important components for any chart to anticipate future price movement and current trend and momentum on chart provided above is suggesting bullishness. Breakout of triangle pattern can be used to determine potential destination for current move and if th...
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