MCX gold was moving up in a channelised manner. It has broken the lower end of the channel and is currently retesting the channel line. The 20-daily moving average and the 40-daily exponential moving average are also there to resist along with the channel line. The daily momentum indicator has completed the pullback cycle, whereas the weekly momentum indicator is in a bearish mode. Thus, the medium-term trend for the yellow metal is down. The short position can be initiated with a reversal above 31,438 for a target of 30,150.
Labels:

Today`s Free Power Level & Auto Buy Sell Chart

(Disclaimer: The above chart shown is for study purpose only and not for trading decision)

Currency & Comex Jobbing Range

Contact Form

Name

Email *

Message *

Powered by Blogger.