Gold Report

Technical outlook

MCX Gold Apr futures technical chart has taken the formation of “Right angled 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 action. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 42100. The positive rally could be extending all the way up to 42300-42450 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 41600 level. Key support holds at 41600.

Technical outlook

MCX Gold Apr futures technical chart has taken the formation of “Right angled 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 action. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 41640. The positive rally could be extending all the way up to 41750-41900 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 41250 level. Key support holds at 41250.

Technical outlook

MCX Gold Apr 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 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 41470. The positive rally could be extending all the way up to 41600-41700 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 41000 level. Key support holds at 41000.

Technical outlook

MCX Gold Apr 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 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 40700. The negative rally could be extending all the way up to 40600-40500 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 41000 level. Key resistance holds at 41000.

Technical outlook

MCX Gold Apr 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 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 41050. The positive rally could be extending all the way up to 41200-41300 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 40700 level. Key support holds at 40700.

Technical outlook

MCX Gold Apr 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 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 40720. The positive rally could be extending all the way up to 40900-41000 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 40300 level. Key support holds at 40300.

Technical outlook

MCX Gold Apr 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 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 40580. The positive rally could be extending all the way up to 40750-40900 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 40100 level. Key support holds at 40100.

Technical outlook

MCX Gold Apr futures technical chart has taken the formation of “Descending broadening wedge” pattern in 4hr 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 40320. The negative rally could be extending all the way up to 40200-40050 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 40700 level. Key resistance holds at 40700.

Technical outlook

MCX Gold Apr futures technical chart has taken the formation of “Descending broadening wedge” pattern in 4hr 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 40740. The positive rally could be extending all the way up to 40900-41100 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 40300 level. Key support holds at 40300.

 Technical outlook

MCX Gold Apr futures technical chart has taken the formation of “Descending broadening wedge” pattern in 4hr 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 40740. The positive rally could be extending all the way up to 40900-41100 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 40300 level. Key support holds at 40300.