key resistance level holding near 47400 - Enrich Financial
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
GOLD
MCX Gold Oct futures technical chart has taken the formation of “Falling channel” pattern in daily time frame. Following some sideways rallies within the channel, last few sessions has ended in sideways with few corrections, after retesting near the resistance trend 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 47400.
The upside rally could possibly test up to 47700-48000 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 47100. A slide to 46800-46500 level is also a possibility if the price makes or break below the current support level.
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
