Mcx gold weekly-follow up positive week and heading towards 29k

Mcx gold future weekly technical analysis report for 29 may
to 2 June 2017

Mcx gold future this week closed at 28854 with almost 200
rupee follow up buying. After last week’s sharp short covering as well as value
buying rally gold seen some follow up buying and closed in green for week.
Now On daily chart, mcx gold price trend and momentum both
are bullish and heading towards 29k levels for medium term bullish breakout.
On reversal Mcx gold future on reversal hit my given target
of 28350 and then 28950. Now if gives closing above 28950 with strong price
action and on volume then expect upside up to 29200 to 29500 in next week.

From long term view, mcx gold future given strong reversal
above 28300 and now remain buy and accumulate for tgt 31500+.

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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