mcx gold weekly technical report for 27 june to 1 july 2016

mcx gold weekly technical report for 27 june to 1 july 2016 Mcx gold future on Friday closed at 31385 with huge gains. Gold future has achieved my given targets 30200 and 31450. This bullion rally is strong and might be continue for medium terms and set fresh high for gold prices.     Mcx gold daily chart, price trend and momentum is strong bullish. On downside 30850 is strong support and above it expect rally to continue. On upside 31900 and 32500 are resistances on daily chart.     Mcx gold weekly chart, showing forth strong weekly closing for gold prices. In last four weeks gold from low of 28400 has rallied by almost 3500 rupees. Means 12% gains in 1 month time frame suggesting underlying risk in other asset classes. Gold might continue this Bull Run up to 32500 to 33500.     For mcx tips by sms with follow up and support visit our subscription section.

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Pramod Baviskar

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