Buy MCX Gold (June) @ 48350 SL 48000 TGT 49000 - Choice Broking
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Gold
* Onthe daily Chart, MCX GOLD (June) price has been rising in Bullish Channel with Higher Highs & Higher Lows formation from last couple of days.
* Moreover, the price has given breakout of Cup & Handle pattern which, point-out positive trend for the long term.
* Furthermore, the price also sustained above Ichimoku Cloud formation & 21 days EMA, which suggests bullish trend for the near future.
* Ona hourly timeframe, it has formed a Bullish Flag Pattern which supports the upward trend.
* Moreover, the Stochastic RSI indicator is also supportive for the long position with positive crossover on the daily chart.
* Based onthe above technical structure, we expect a bullish movement in MCX GOLD (June) towards the level of 49000 in the nearterm.
Buy MCX Gold (June) @ 48350 SL 48000 TGT 49000
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