MCX Gold Feb futures technical chart has taken the formation of “Rising wedge” pattern in daily time frame - Enrich Financial Solution
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
GOLD
Technical outlook
MCX Gold Feb futures technical chart has taken the formation of “Rising wedge” pattern in daily time frame. Following some sideways movements within the channel, last session has traded sideways and closed in slight green, retesting near the channel’s support line. Based on the current price action, market is expected to continue on bullish momentum once the same breaks above the key resistance level holding near 48300. The upside rally could possibly test up to 48600-48900 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 48000. A slide to 47700-47400 level is also a possibility if the price makes or break below the current support level.
Technical Chart
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://enrichbroking.in/disclaimer
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
