Again i have connected my title with a Bollywood name and tagline but this time the name of film even mean it. Only Real users or players but gold at this time or else its time to short Gold. On 30th January i initiated a Short call. It was confirmed that gold is not a gud for investment currently. Now today i have spotted some real danger on the chart. As you call can see in the chart that a trend was tested 5 times in last 7 years but today it has broken that and trading below that. It is a montly chart so we need to wait till end of april but i suggest you all to go short with extended tgts to previous 28400 to 27100/25000 and worst case 21000.. Yes 25000 and 21000 are mch possible. So be cautious.
Before few months i did tweeted with graph tht i may sound foolish but i am expecting levels of below 30000 to 25000 on gold and see ystdy we got a confirmation for tht levels on the chart. In simple technical language we have seen a double top confirmation on GOLD and now we may see minimum of 28400-28600 in next month or 2. Tracking fundamentally we have 2 main reasons to support chart. Firstly, import duty has been hiked which will slow down unnecessary import of the yellow metal and traders who would have booked future imports would sell on. Secondly, equity and agri commodity markets are giving well-off returns compared to precious metal so it wld see speculators leaving bullion market for time being. In all it would be a good buying opportunity who are yet bachelor lol hahahah!!! so traders go short with sl of 30500 while long term investors buy on each dip till 28400-28600