Articles


  • GOLD - Weekly Report



    Short Term trend: Bearish
    Intraday: Bearish

    The yellow metal is moving downwards for the eighth trading day approaching the initial support of 1321.00 as seen on the provided daily chart. Being covered by SMA 20 and SMA 50 in addition to the negativity on candlestick formation argue us to suggest further debasement this week; noting that a break below 1321.00 will bring aggressive downside actions. RSI 14 may cause some kind of fluctuation but MACD solidifies the technical anticipations of resuming the downtrend by drawing a negative crossover below its histogram.

    ** Short term (Less than three months)
    ** Chart is based on GMT+2 timing
    Notes:
    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.

    Based on the explanations and chart above, we believe that selling the metal around 1360.00 targeting 1300.00 followed by 1275.00 and stop loss at 1402.00 could be appropriate this week.


    Read full article
  • Rabindra Kayastha

    Authorized Person for MEX NEPAL
    Mob: +977 9856030634

  • Pawan Dhakal

    Biratnagar Branch Manager
    Mob: +977 9852033934

  • Our Clearing Member

    Himalayan Commodity Brokers

  • Our Banking Partners

    Laxmi Bank
  • Bank of Kathmandu
  • Nepal Investment Bank Limited
  • Century Commercial Bank Limited