Gold

Technical outlook

MCX Gold April futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up bullish in trend along with some corrections inside the channel, where the market is expected to continue on bullish momentum. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 33950. The positive rally could be extending all the way up to 34100-34200 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. The downside rally could test up to 33800-33650 levels. Key support holds at 33650.

Research Report call:

Technical outlook

MCX Gold April futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up bullish in trend along with some corrections inside the channel, where the market is expected to continue on bullish momentum. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 33950. The positive rally could be extending all the way up to 34100-34200 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. The downside rally could test up to 33800-33650 levels. Key support holds at 33650.

Research Report call:

Technical outlook

MCX Gold April futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up bullish in trend along with some corrections inside the channel, where the market is expected to continue on bullish momentum. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 33700. The positive rally could be extending all the way up to 33800-33900 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. The downside rally could test up to 33500-33400 levels. Key support holds at 33400.

Research Report call:

Technical outlook

MCX Gold April futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up bullish in trend along with some corrections inside the channel, where the market is expected to continue on bullish momentum. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 33450. The positive rally could be extending all the way up to 33550-33600 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. The downside rally could test up to 33200-33100 levels. Key support holds at 33100.

Research Report call:

Technical outlook

MCX Gold April futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up bullish in trend along with some corrections inside the channel, where the market is expected to continue on bullish momentum. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 33150. The positive rally could be extending all the way up to 33300-33400 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. The downside rally could test up to 32950-32800 levels. Key support holds at 32800.

Research Report call:

Technical outlook

MCX Gold April futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last session ended up bullish in trend after few negative rallies inside the channel, where the market is expected to continue on bullish momentum. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 33100. The positive rally could be extending all the way up to 33150-33250 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. The downside rally could test up to 32900-32800 levels. Key support holds at 32800.

Research Report call:

Technical outlook

MCX Gold April futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up bearish in trend along with some corrections inside the channel, where the market is expected to continue on bearish momentum. the continuation of the trend will be confirmed once the prices breaks below a key support holding at 32820. The negative rally could be extending all the way up to 32700-32600 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might have a chance to retest the same and revise the trend to bullish once again. The upside rally could test up to 33000-33150 levels. Key resistance holds at 33150.

Research Report call:

Technical outlook

MCX Gold April futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up bearish in trend along with some corrections inside the channel, where the market is expected to continue on bearish momentum. the continuation of the trend will be confirmed once the prices breaks below a key support holding at 32950. The negative rally could be extending all the way up to 32850-32750 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might have a chance to retest the same and revise the trend to bullish once again. The upside rally could test up to 33150-33300 levels. Key resistance holds at 33300.

Research Report call:

Technical outlook

MCX Gold April futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last session ended up consolidated after few negative rallies inside the channel, where the market is expected to continue on bullish momentum. The positive rally could be extending all the way up to 33350-33500 levels in the upcoming sessions. An alternative scenario indicates that if the market happens to breaks below a key support holding at 33150 and give a close on daily basis then it might revise the trend to bearish once again. The downside rally could test up to 33300-32900 levels. Key resistance holds at 33500.

Research Report call:

Technical outlook

MCX Gold April futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up bearish in trend along with some corrections inside the channel, where the market is expected to continue on bearish momentum. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 33100. The negative rally could be extending all the way up to 33000-32900 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might have a chance to retest the same and revise the trend to bullish once again. The upside rally could test up to 33350-33500 levels. Key resistance holds at 33500.

Research Report call: