Published on 22/09/2020 9:35:31 AM | Source: Enrich Commodities India Pvt Ltd

Gold Key resistance holds near 51200 - Enrich Commodities

Posted in Commodities Reports| #Commodity Tips #Enrich Commodities India Pvt Ltd

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel 

Download Telegram App before Joining the Channel


Technical outlook

MCX Gold Oct futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last few sessions ended up bearish testing near the channel’s support line. Based on the current price action, market is expected to continue on bearish momentum once the same breaks below the key support level holding near 50300. The downside rally could possibly test up to 50000-49600 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 51200. A slide to 51700 is also a possibility if the price makes or break above the current resistance level.

Technical Chart



To Read Complete Report & Disclaimer Click Here


Please refer disclaimer at
SEBI Registration number is INZ000078632


Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer