October 27, 2016

MTECHTIPS MCX GOLD INTRADAY trading tips 10-10-2016

MTECHTIPS MCX Gold is bearish for medium-long term .Currently Gold is in strong downtrend and the trend is supported with good volume The open interest is not increasing with trend . In last few days volume based selling happened in the Gold. 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 SELL position.Positionally Immediate support for Gold is 29183.Resistance for the Gold is 30603-30820-30862-30979-31181-31232-

Short term and Intraday Level of GOLD


Currently Gold is in HOLD SHORT position The Gold is in downtrend For short term buy only if close above 29982.0 Selling pressure seems to be deceasing so Short term investor with risk aptitude can enter again if it close above 30138.0 but caution- close Below low5 fresh selling can occur The Gold is now trading in highly oversold level. The oscillator is showing BUY signal

Intraday Trend- Buy is advised above 29946.7 with a stop at 29364.7 Below 29210.6 go for sell.





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