Buy Mcx Goldm (Apr) @ 45280 SL 44700 TGT 46200 - Choice Broking
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GOLD
* Onthe daily charts, MCX GOLDM (Apr) future has shown Descending Channel Breakout which is the sign of strong bullish sentiments.
* The price has also crossed above 14 days Exponential Moving Average and near to Middle Bollinger Band and if price breaks Middle Bollinger Band, we can expect a strong positive moment.
* Furthermore, A momentum indicator Stochastic Oscillator showed bullish crossover on the daily chart which suggests positive momentum for the near term.
* In additions, the RSI is raising after touched an oversold zone which shows positive sentiments.
* Based on the above technical structure, we suggest a bullish movement in MCX GOLDM (Apr) towards the level 46200 in the near term.
Buy MCX GOLDM (Apr) @ 45280 SL 44700 TGT 46200
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