Gold Report

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Ascending broadening wedge” pattern in 4hr time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. Based on the current price action, market is expected to continue on bullish momentum once the same breaks above the key resistance level holding near 47000. The upside rally could possibly test up to 47300-47600 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 46700. A slide to 46400-46100 is also a possibility if the price makes or break below the current support level.

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Ascending broadening wedge” pattern in 4hr time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. Based on the current price action, market is expected to continue on bearish momentum once the same breaks below the key support level holding near 46300. The downside rally could possibly test up to 46000-45700 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 46900. A slide to 47200 is also a possibility if the price makes or break above the current resistance level.

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Rising channel” pattern in 2hr time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. Based on the current price action, market is expected to continue on bullish momentum once the same breaks above the key resistance level holding near 46700. The upside rally could possibly test up to 47000-47300 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 46400. A slide to 46100-45800 is also a possibility if the price makes or break below the current support level.

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Descending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. Based on the current price action, market is expected to continue on bullish momentum once the same breaks above the key resistance level holding near 47000. The upside rally could possibly test up to 47300-47600 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 46100.

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Descending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. Based on the current price action, market is expected to continue on bullish momentum once the same breaks above the key resistance level holding near 46500. The upside rally could possibly test up to 46800-49100 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 45600.

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Descending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. Based on the current price action, market is expected to continue on bullish momentum once the same breaks above the key resistance level holding near 46000. The upside rally could possibly test up to 46300-46600 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 45400. A slide to 45100 is also a possibility if the price makes or break below the current support level.

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Descending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. Based on the current price action, market is expected to continue on bullish momentum once the same breaks above the key resistance level holding near 45100. The upside rally could possibly test up to 45400-45700 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 44500. A slide to 44200 is also a possibility if the price makes or break below the current support level.

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Megaphone chart” pattern in 4hr time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. Based on the current price action, market is expected to continue on bullish momentum once the same breaks above the key resistance level holding near 45500. The upside rally could possibly test up to 45800-46100 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 45200. A slide to 44900-44600 is also a possibility if the price makes or break below the current support level.

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Megaphone chart” pattern in 4hr time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. Based on the current price action, market is expected to continue on bullish momentum once the same breaks above the key resistance level holding near 45000. The upside rally could possibly test up to 45300-45600 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 44700. A slide to 44400-44100 is also a possibility if the price makes or break below the current support level.

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Right angled ascending broadening wedge” pattern in 4hr time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. Based on the current price action, market is expected to continue on bearish momentum once the same breaks below the key support level holding near 44300. The downside rally could possibly test up to 44000-43700 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 44600. A slide to 44900-45200 is also a possibility if the price makes or break above the current resistance level.