Yesterday we wrote “Gold has gained for the second day in a row. We will have to check if it can go past $1600 where there is a resistance. Gold gained despite the news that George Soros dumped his Gold holdings.”

Gold is struggling to go past $1600 which is a major resistance level. Unless Gold holds above $1600+ it would be advantage bears!

Coming back to Indian equities on Monday we informed that if Nifty cannot break above 5950 then it would go back to lower levels. While bears tighten their hold we have to be careful about the Indian market. If Nifty does not bounce back at 5700 then we would see a sharp downfall. Let us discuss it in our tomorrow’s newsletter