mcx gold topped out pattern? tgt 30150-29200

Mcx gold intraday technical analysis 4th November 2016 Mcx gold intraday technical analysis 4th November 2016 Mcx gold future last closed at 30465 with loss. Mcx gold after breakout above 30150, given strong rally up to 30700. But now price as well as indicators apttern suggesting topped out pattern and prices might fall to previous lows in short to medium terms.   Mcx gold intraday resistances as well as fresh shorting zones are 30600 and 30800. On downside traders can expect 30300 and 30050 as intraday target zones.   Positional bullion traders can go short on higher levels with stop loss above 30800 for targets 30150 and then 29200.

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Pramod Baviskar

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