Gold Report

Technical outlook

MCX Gold Oct futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up in bullish trend along with some corrections inside the channel, the market is expected to continue on bullish momentum based on the price actions. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 38830. The positive rally could be extending all the way up to 39000-39100 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 38400 level. Key support holds at 38400.

Technical outlook

MCX Gold Oct futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways trend along with some corrections inside the channel, the market is expected to continue on bullish momentum based on the price actions. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 38250. The positive rally could be extending all the way up to 38400-38500 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 37700 level. Key support holds at 37700.

Technical outlook

MCX Gold Oct futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways trend along with some corrections inside the channel, the market is expected to continue on bullish momentum based on the price actions. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 38080. The positive rally could be extending all the way up to 38250-38400 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 37600 level. Key support holds at 37600.

Technical outlook

MCX Gold Oct futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways trend along with some corrections inside the channel, the market is expected to continue on bullish momentum based on the price actions. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 38100. The positive rally could be extending all the way up to 38250-38400 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 37600 level. Key support holds at 37600.

Technical outlook

MCX Gold Oct futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways trend along with some corrections inside the channel, the market is expected to continue on bearish momentum based on the price actions. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 37700. The negative rally could be extending all the way up to 37500-37300 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 38200 level. Key resistance holds at 38200.

Technical outlook

MCX Gold Oct futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways trend along with some corrections inside the channel, the market is expected to continue on bearish momentum based on the price actions. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 37800. The negative rally could be extending all the way up to 37700-37600 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 38300 level. Key resistance holds at 38300.

Technical outlook

MCX Gold Oct futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways trend along with some corrections inside the channel, the market is expected to continue on bearish momentum based on the price actions. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 37700. The negative rally could be extending all the way up to 37600-37500 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 38100 level. Key resistance holds at 38100.

Technical outlook

MCX Gold Oct futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways trend along with some corrections inside the channel, the market is expected to continue on bullish momentum based on the price actions. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 38320. The positive rally could be extending all the way up to 38450-38600 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 37800 level. Key support holds at 37800.

Technical outlook

MCX Gold Oct futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways trend along with some corrections inside the channel, the market is expected to continue on bullish momentum based on the price actions. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 38100. The positive rally could be extending all the way up to 38250-38400 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 37600 level. Key support holds at 37600.

Technical outlook

MCX Gold Oct futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last session ended up in bearish trend after few positive rallies inside the channel, the market is expected to continue on bearish momentum based on the price actions. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 37650. The negative rally could be extending all the way up to 37500-37400 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 38000-38200 levels. Key resistance holds at 38200.