Gold Report

Technical outlook

MCX Gold Dec 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 38300. The positive rally could be extending all the way up to 38480-38650 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 Dec 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 38500-38650 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 Dec 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 37920. 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 38400 level. Key resistance holds at 38400.

Technical outlook

MCX Gold Dec 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 38300. The positive rally could be extending all the way up to 38500-38650 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 Dec 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 37750. The negative rally could be extending all the way up to 37600-37400 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 38100 level. Key resistance holds at 38100.

Technical outlook

MCX Gold Dec 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 38050. 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 have a chance to retest the same and revise the trend to bullish once again. The upside rally could test up to 38550 level. Key resistance holds at 38550.

Technical outlook

MCX Gold Dec 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 38550. The positive rally could be extending all the way up to 38700-38900 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 38100 level. Key support holds at 38100.

Technical outlook

MCX Gold Dec 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 negative rally could be extending all the way up to 38200-38000 levels in the upcoming sessions. An alternative scenario indicates that if the market breaks above a key resistance holding at 38500 then it might revise the trend to bullish once again. The upside rally could test up to 38800 level. Key support holds at 38000.

Technical outlook

MCX Gold Dec 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 38050. The negative rally could be extending all the way up to 37900-37750 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 38400 level. Key resistance holds at 38400.

Technical outlook

MCX Gold Dec 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 37660. 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 28200.