MCX Gold Daily chart technical analysis
MCX Gold future on last trading session closed at 29,462 with gain. On daily chart, gold future is trading near major short-term support zone. Mcx gold short-term trend is bullish but momentum is mixed. Above 29,300 on closing basis, gold remain buy for targets 30,000 to 30.400. For next week, mcx gold support levels are 29,300 and then 28,800 while on upside 30,000 and then 30,400 are strong supply zones. Major indicators are with mixed signals. for next week traders keep stop loss below 28,800 and follow buy on dips view for mcx gold future. on upside 30k will be first target zone.
MCX Gold weekly chart technical analysis
MCX Gold future this week closed with flat loss. This week mcx gold future hit high near 29,900 while low was near 29,100. On weekly chart, gold price trend and momentum both strong bullish hence medium term outlook is still strong bullish. On chart, 29,000 and 28,200 are strong support zones while on upside 30,400 and 31,000 are strong resistance levels from medium to long term view. Major indicators are bullish and suggesting upside for gold prices in medium terms. Investors above 28,200 must follow buy on dips strategy.