Gold

Technical outlook

MCX Gold futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last session ended up consolidated retesting near an interim support line inside the channel, where the market is expected to continue on the bearish trend. The continuation of the trend will be confirmed once the market breaks below a key support zone holding near 28280. The negative rally could be extending all the way through 29150-29000 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the key support zone 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 29600-29800. Key support holds at 29000.

Research Report call:

To View subscribe OR become a registered client

Technical outlook

MCX Gold futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last session ended up strongly bearish in trend testing near an interim support line inside the channel, where the market is expected to continue on the same trend. The continuation of the trend will be confirmed once the market breaks below a key support zone holding near 28280. The negative rally could be extending all the way through 29150-29000 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the key support zone 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 29600-29800. Key support holds at 29000.

Research Report call:

Technical outlook

MCX Gold futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last few sessions ended up in sideways but also bullish in trend, where the market is expected to continue on the same trend. The positive rally could be extending all the way through 29850-30000 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the market been able to break below a key support zone holding near 29550, then it might have a chance to revise the trend to bearish once again. The downside rally could test up to 29400. Key resistance holds at 30000.

Research Report call:

Technical outlook

MCX Gold futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last session’s been a bearish one after few positive rallies inside the channel, where the market is expected to continue on the bearish trend. The negative rally could be extending all the way through 29650-29550 and furthermore levels in the upcoming sessions. An alternative scenario indicates that the market might also have a chance on giving a small correction over positive momentum. The correction could test up to 29880. Key resistance holds at 30000.

 

Technical aspects based on USD: Gold prices crashed through support which is now resistance near $1,204, which coincides with the August lows and the July 2017 lows. The next level of target support is seen near the January 2017 lows at 1,180. A break of that level would lead to a test of the December 2016 lows at 1,120.

Research Report call:

Technical outlook

MCX Gold futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last few sessions’ been in bullish inside the channel, where the market is expected to continue on the bullish trend. The positive rally could be extending all the way through 29850-30000 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the market been able to break below a key support holding at 29600, then it might have a chance to revise the trend to bearish once again. The downside rally could extend up to 29400. Key resistance holds at 30000.

 

Research Report call:

Technical outlook

MCX Gold futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last few sessions’ been in consolidation inside the channel, where the market is expected to continue on the bullish trend. The Buy signal will be confirmed once the market breaks above a key resistance zone holding near 29750. The positive rally could be extending all the way through 29850-30000 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the key resistance zone 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 extend up to 29400. Key support holds at 29400.

Research Report call:

Technical outlook

MCX Gold futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last few sessions’ been bearish in trend inside the channel, where the market is expected to continue on the same trend. The sell signal will be confirmed once the market breaks below a key support zone holding near 29550. The negative rally could be extending all the way through 29500-29400 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the key support zone 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 extend up to 30000. Key support holds at 29400.

Research Report call:

Technical outlook

MCX Gold futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last few sessions’ been bearish in trend on a gap up formation inside the channel, where the market is expected to continue on the same trend. The negative rally could be extending all the way through 29500-29400 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the market been able to break above the key resistance holding at 29700, then it might have a chance to revise the trend to bullish once again. The upside rally could extend up to 30000. Key support holds at 29400.

Research Report call:

Technical outlook

MCX Gold futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last session’s been a consolidated one but bearish in trend on a gap up formation inside the channel, where the market is expected to continue on the same trend. The sell signal will be confirmed once the market breaks below a key support holding near 29560. The negative rally could be extending all the way through 29500-29400 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong, then the market might have a chance to revise the trend to bullish once again. The upside rally could extend up to 30000. Key resistance holds at 30000.

Research Report call:

Technical outlook

MCX Gold futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last session’s been a consolidated one but bullish in trend by retesting an interim support line inside the channel, where the market is expected to continue on the same trend. The positive rally could be extending all the way through 29700-30000 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the market been able to breaks below a key support zone holding near 29450, then it might have a chance on revising the trend to bearish once again. The downside rally could extend up to 29000. Key resistance holds at 30000.

Research Report call: