MTECHTIPS MCX GOLD INTRADAY trading tips 01-02-2017
MTECHTIPS Gold is bearish for medium-long term .Currently Gold is in 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 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 Support for the Gold is 28526-28507-28430-28069-27900-.Resistance for the Gold is 29192-
Short term and Intraday Level of GOLD
Currently Gold is in HOLD SHORT position Gold is in sideways and sellers was at high so for short term better buy above 29258.8 or hold with stop at 28085.0 The next resistance will be at 28990.0 The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 29258.8 with a stop at 28755.2 Below 28626.3 go for sell and put stop at 29129.