Gold

Technical outlook

MCX Gold June 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 31650. The positive rally could be extending all the way up to 31700-31800 levels in the upcoming sessions. An alternative scenario indicates that if 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 31500-31400 levels. Key support holds at 31400.

Research Report call:

Technical outlook

MCX Gold June 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 31400. The negative rally could be extending all the way up to 31300-31200 levels in the upcoming sessions. An alternative scenario indicates that if 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 31600-31700 levels. Key resistance holds at 31700.

Research Report call:

Technical outlook

MCX Gold June 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 31400. The negative rally could be extending all the way up to 31300-31200 levels in the upcoming sessions. An alternative scenario indicates that if 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 31600-31700 levels. Key resistance holds at 31700.

Research Report call:

Technical outlook

MCX Gold June 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 31500. The negative rally could be extending all the way up to 31400-31300 levels in the upcoming sessions. An alternative scenario indicates that if 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 31650-31800 levels. Key resistance holds at 31800.

Research Report call:

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up bullish in trend and consolidated 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 31900. The positive rally could be extending all the way up to 32000-32100 levels in the upcoming sessions. An alternative scenario indicates that if 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 31750-31650 levels. Key support holds at 31650.

Research Report call:

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last session ended up bullish in trend and consolidated after a long negative rally 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 31900. The positive rally could be extending all the way up to 32000-32100 levels in the upcoming sessions. An alternative scenario indicates that if 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 31750-31650 levels. Key support holds at 31650.

Research Report call:

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last session ended up bearish in trend after few positive rallies 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 31700. The negative rally could be extending all the way up to 31600-31500 levels in the upcoming sessions. An alternative scenario indicates that if 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 31900-32000 levels. Key resistance holds at 32000.

Research Report call:

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up bullish in trend and consolidated 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 32380. The positive rally could be extending all the way up to 32500-32600 levels in the upcoming sessions. An alternative scenario indicates that if 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 32150-32000 levels. Key support holds at 32000.

Research Report call:

Technical outlook

MCX Gold June futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last session ended up bearish in trend and consolidated after a long positive rally inside the channel, where the market is expected to continue on bearish momentum. The negative rally could be extending all the way up to 32050-31900 levels in the upcoming sessions. An alternative scenario indicates that if the market breaks above a key resistance holding at 32300 then it might revise the trend to bullish once again. The upside rally could test up to 32500 levels. Key support holds at 31900.

Research Report call:

Technical outlook

MCX Gold June 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 32300. The positive rally could be extending all the way up to 32400-32500 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 32100-31900 levels. Key support holds at 31900.

Research Report call: