MTECHTIPS MCX GOLD INTRADAY trading analysis 10-06-2016
DAILY :- Mcx gold future closed at 29926 with gain. Here above 29750 keep long view for intraday and expect 30050 and 30300+ targets. Gold is heading towards my target 30200 after breakout buy signal at 29200.
WEEKLY :- Mcx gold future this week closed with gain. After last 3 weeks continues fall, gold prices saw value buying on lower levels as well as short covering after dollar index fall. For next wee, mcx gold future outlook remain bullish and short covering rally might continue in next week. Mcx gold weekly supports are at 29000 and then 28450. These are fresh buying level on correction in next week. On upside mcx gold weekly resistances are 29700 and 30150. These are target levels for gold future for next week. Mcx gold above 29300 remain bullish for month of june and upside targets are 30200 and 31400.