MCX GOLD Technical Trend

MCX GOLD Technical Trend

MCX GOLD last week showed choppy movements found resistance around 38.2% retracement. It broke trend line on daily chart but not able to close below this may show some strength for upward movement, 31200 is seen as strong resistance for it. On lower side 30620 is act as strong support for it below this it may find next support around 30370.

Strategy

Better strategy in MCX GOLD is to buy above 31200 for the targets of 31500-31800 with stop loss of 30600.

GOLD:
Trend updated for-Jan/07/2013.CMP-30907 Overall trend of the Gold is bearish for medium-long term .Currently Gold is showing some up move after small correction and trend is strong and supported with good volume The open interest is not increasing with trend . Caution note buying at higer levels seems decreasing. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal For short term Gold is in HOLD LONG position.Positionally Support for the Gold is 30709-30696-.Resistance for the Gold is 31130-31366-31436-31451-

GOLD:
Trend updated for-Jan/08/2013.CMP-30863 Overall trend of the Gold is bearish for medium-long term .Currently Gold is moving sideways The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal .In last 1 month volatality is very less and fresh Buy can be considered in the Gold if it close above31316 or buy with strict stop at 30249. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal For short term Gold is in HOLD LONG position.Positionally Support for the Gold is 30726-30698-.Resistance for the Gold is 31114-31358-31426-31441

SILVER:
Trend updated for-Jan/09/2013.CMP-58470 Overall trend of the Silver is bearish for medium-long term .Currently Silver is moving sideways The oscillator is showing BUY signal .In last 1 month volatality is very less Buy the Silver above 59818 or buy with strict stop at 56578. The oscillator is showing BUY signal For short term Silver is in HOLD SHORT position.Positionally Support for the Silver is 57820-57791-.Resistance for the Silver is 59522-60555-60871-61229-

MCX GOLD Technical Trend

MCX GOLD last week showed choppy movements found resistance around 38.2% retracement. It broke trend line on daily chart but not able to close below this may show some strength for upward movement, 31200 is seen as strong resistance for it. On lower side 30620 is act as strong support for it below this it may find next support around 30370.

Strategy

Better strategy in MCX GOLD is to buy above 31200 for the targets of 31500-31800 with stop loss of 30600.

Trend updated for-Jan/17/2013.CMP-30892 Overall trend of the Gold is bearish for medium-long term.Currently Gold is showing some down move and trend is strong and supported with good volume The open interest is not increasing with trend .. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing SELL signal For short term Gold is in HOLD SHORT position.Positionally Support for the Gold is 30747-30729-30715-.Resistance for the Gold is 31311-31319-31337-

GOLD:
The open interest is not increasing with trend .. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing SELL signal For short term Gold is in HOLD SHORT position.Positionally Immediate support for Gold is 30408.Resistance for the Gold is 30949-30960-30987-31292-31312-31326-

SILVER:
Trend updated for-Jan/18/2013.CMP-59614 Overall trend of the Silver is bearish for medium-long term .Currently Silver is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Silver is 58459-58297-58079-.Resistance for the Silver is 60381-60509-60789-

MCX GOLD Technical Trend

MCX GOLD last week showed downward movements broke strong support of trend line i.e. 30600 and closed below this. Now immediate support is seen around 30350 if it break this then it will be in weak zone and may find next support around psychological level of 30000. For higher level strength is seen only if it give closing above 30850.

STRATEGY

Better strategy in MCX GOLD is to sell on highs for the targets of 30000-29750 with stop loss of 31050.