mcx gold weekly technical analysis for 14 to 18 march 2016
Mcx gold future this week closed with loss. Gold prices after strong rally showing range bound or consolidation in wide range. On upside it bounded by resistance 30100 on downside bounded by support 28800.outlook remain bullish and strategy remain above 28700 keep buy and accumulate view, for targets 30800 and then possibly 32200. Buy near 28700 will be best as per risk reward ratio. If mcx gold fails to hold 28700 then expect breakdown on sharp profit booking up to 27300.