MTECHTIPS MCX GOLD SELL AT 26175-210 STOPLOSS 27280 TGT 27020 TGT 26900

MTECHTIPS MCX GOLD trading analysis 01-06-2015
Mcx gold future on last trading session closed at 26860 with loss. on daily chart, gold is closed just at its 3 month average with mixed signals on indicators. gold had given dips below its 3 month average but still maintaining it on closing basis. 26850 is 3month average and 27050 is 1 month average resistance.daily chart , macd indicators is with bearish divergence and above zero. rsi is below 50 with bearish divergence and cci is –57 and with bearish divergence. for next week, 26700-26800 is major crucial support if gold gives daily closing below it then expect sharp sell off in gold with high volatility for price targets 26200 to 25700. reversal from 26700 will be best short term buying opportunity in gold. in that case gold targets will be 27250 and above. short term traders for next week, keep wait and watch strategy for gold future.
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