Gold Report

Technical outlook

MCX Gold Feb futures technical chart has taken the formation of “Megaphone chart” 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 action. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 37850. The positive rally could be extending all the way up to 38000-38150 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might retest the same and revise the trend to bearish once again. The downside rally could test up to 37500 levels. Key support holds at 37500.

Technical outlook

MCX Gold Feb futures technical chart has taken the formation of “Megaphone chart” 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 action. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 37480. The negative rally could be extending all the way up to 37300-37150 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might retest the same and revise the trend to bullish once again. The upside rally could test up to 37750 levels. Key resistance holds at 37750.

Technical outlook

MCX Gold Feb futures technical chart has taken the formation of “Megaphone chart” 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 action. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 37750. The positive rally could be extending all the way up to 37900 level in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might retest the same and revise the trend to bearish once again. The downside rally could test up to 37500 levels. Key support holds at 37500.

Technical outlook

MCX Gold Feb futures technical chart has taken the formation of “Megaphone chart” pattern in 4 hours’ 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 action. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 37510. The negative rally could be extending all the way up to 37400-37300-37150 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might retest the same and revise the trend to bullish once again. The upside rally could test up to 37850 levels. Key resistance holds at 37850.

Technical outlook

MCX Gold Feb futures technical chart has taken the formation of “Megaphone chart” pattern in 4 hours’ 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 action. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 37510. The negative rally could be extending all the way up to 37400-37300-37150 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might retest the same and revise the trend to bullish once again. The upside rally could test up to 37850 levels. Key resistance holds at 37850.

Technical outlook

MCX Gold Feb futures technical chart has taken the formation of “Megaphone chart” pattern in 4 hours’ 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 action. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 37600. The negative rally could be extending all the way up to 37450-37300 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might retest the same and revise the trend to bullish once again. The upside rally could test up to 38100 levels. Key resistance holds at 38100.

Technical outlook

MCX Gold Feb futures technical chart has taken the formation of “Megaphone chart” pattern in 4 hours’ 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 action. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 38150. The negative rally could be extending all the way up to 38000-37850 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might retest the same and revise the trend to bullish once again. The upside rally could test up to 38600 levels. Key resistance holds at 38600.

Technical outlook

MCX Gold Feb futures technical chart has taken the formation of “Descending broadening wedge” pattern in 4 hours’ 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 action. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 38020. The negative rally could be extending all the way up to 37900-37700 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might retest the same and revise the trend to bullish once again. The upside rally could test up to 38450 levels. Key resistance holds at 38450.

Technical outlook

MCX Gold Feb futures technical chart has taken the formation of “Descending broadening wedge” pattern in 4 hours’ 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 action. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 38430. The positive rally could be extending all the way up to 38600-38750 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might retest the same and revise the trend to bearish once again. The downside rally could test up to 38000 levels. Key support holds at 38000.

Technical outlook

MCX Gold Feb futures technical chart has taken the formation of “Falling 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 reversal formation near patterns trend line. The negative rally could be extending all the way up to 37750-37600 levels in the upcoming sessions. An alternative scenario indicates that if the market breaks above a key resistance holding at 38000 then it might revise the trend to bullish once again. The upside rally could test up to 38250 levels. Key support holds at 37600.