Weekly News For Commodity Mcx Gold Trend 22 July to 27 july 2013
MCX GOLD Technical Trend
MCX GOLD showed sideways movements and consolidated around 61.8% retracement but unable to close above it. Now if it is able to sustain above 27000 then next resistance is seen around 27500. On lower side 50% retracement i.e. 26400 will act as immediate support for it, below this it may drag towards the next support level of 26000.
Better strategy in MCX GOLD is to buy above 27000 for the target of 27500-28000 with stop loss of 26200.
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