mcx gold weekly analysis for 23 to 27 may 2016

mcx gold weekly analysis for 23 to 27 may 2016 Mcx gold future this week closed with loss at 29690. This was second weekly loss for gold prices.   For next week, mcx gold future above 29650 remain bullish and buy.   Mcx gold weekly chart support zones are 29300 and 28900 while on upside 30200 and 30600 are resistances.   My view is bullish for gold and traders must keep buy on dips view near support zones for tgts 30200 and 30600. Only weekly closing below 29600 will confirm downtrend signal for gold future.

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Pramod Baviskar

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