mcx gold intraday levels and trading tips
Mcx gold price today trading at 26885 with loss of quarter percent. Today gold future opened at 26919 and hit high at 26920 while intraday low was at 26850. Until now trading volume is at 1741.
For intraday my outlook is bullish as weaker rupee might trigger rally in domestic prices as well as Greece debt also trigger safe heaven appeal of this precious metal. Though fundamentals are still weak for gold but risk environment might trigger sharp short covering rally here.
For intraday mcx gold support zones are 26750 and then 26600 while on upside 27050 and 27200 are strong resistances. On daily chart mcx gold already formed bottom out price pattern as well as indicators patterns. So keep buy and accumulate view with strict stop loss in place. Sharp short covering might show target up to 27550 which is my positional trader in gold future.