Mcx gold daily chart technical analysis
opened sharp gap down at 27400 and hit my given target of 27250. We saw downside from 28500 to 27250 in this month. Major breakdown was seen at 29300 level in last month. and momentum both are very bearish. Prices are deeply oversold but outlook still remain bearish. Watch this week closing, if comes below 27250 then my next positional target for gold future will be 26100. On upside 27850 and 28170 are major resistance zones as well as fresh short entry zones for bullion short sellers with stop loss. From , mcx gold is in major correction phase. And monthly closing below 27400 means next downside target of 25900 in longer terms.