MTECHTIPS MCX GOLD intraday trading analysis 13-04-2015

mcx gold future on last trading session closed at 26781 with gain. on daily chart, gold future price trend is range bound while momentum is bullish gold future will have supports around 26650 and then 26550 while on upside 26980 is strong resistance and below maintain it means higher tops and bottom cycle for short terms. from medium term view gold future below 26500 will remain short for much lower targets. on indicators side, gold on daily chart looks overbought so correction is due ahead.




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