mcx bullion intraday view 28 sep 2015

Mcx gold is trading at 26563 with loss for the day. On chart, for intraday support is at 26450. While on upside expect strong resistance at 26890 and then 27100. Which was recent top and now gold is correction on profit booking. Though trend still bullish traders must keep buy neat support strategy with stop loss and expect target 26890 and then 27100 in intraday to short terms. Below 26450 gold might extend fall up to 25900 on reversal selling pressure.

Mcx silver dec future is trading at 35729 with almost 1% drop. For intraday mcx silver support zone is around 35250 and 35130 while on upside expect strong resistance from market around 36300 and then 36650. As trend is still bullish trader must follow buy near support strategy with strict stop loss in place. On upside 36300+ and then 36650 will remain as target zones for short term traders. Closing below 35130 means fresh breakdown for target 34400 and below. In that scenario one can initiate reversal trade with stop loss.

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