Gold future monthly outlook June 2017
This was second gaining month for gold prices and in these 2 months prices taking
support around 28250. This month gold future recorded low at 27900 while high
was around 29000. Total 1100 rupee or 4% range and flat closing on
above 28580 level only. Daily chart price pattern and indicators are bullish
but suggesting upside for this precious metal in June series.
positional targets around 29200 and then 29650. Below 28580 on daily closing
basis, trend will change and downside might be expected towards 28200 to 27500.
stop loss below major bottom of 28500 rupees and keep targets at 29200 and then
29650 for month of June 2017.
multiple supports at 28300 which is very bullish sign from long term view and
expect upside investment target at 31600 and 35700.