Mcx gold monthly-remain buy and accumulate above 28580

Gold future monthly outlook June 2017

Mcx gold future in month of May closed at 28810 with gain.
This was second gaining month for gold prices and in these 2 months prices taking
support around 28250. This month gold future recorded low at 27900 while high
was around 29000. Total 1100 rupee or 4% range and flat closing on
For month of June 2017, mcx gold future outlook remain bullish
above 28580 level only. Daily chart price pattern and indicators are bullish
but suggesting upside for this precious metal in June series.
Above 28580, mcx gold will remain buy on dips and expect
positional targets around 29200 and then 29650. Below 28580 on daily closing
basis, trend will change and downside might be expected towards 28200 to 27500.
Bullion Commodity traders above 28580 keep buying view with
stop loss below major bottom of 28500 rupees and keep targets at 29200 and then
29650 for month of June 2017. 

From long term view, gold future is range bound and taking
multiple supports at 28300 which is very bullish sign from long term view and
expect upside investment target at 31600 and 35700.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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