MTECHTIPS MCX GOLD INTRADAY trading analysis 01-07-2016
MTECHTIPS Mcx Gold is in choppy trend and we will this type of sluggish move remain continue for next 8-10 trading sessions though bias remain negative. Traders can try to trade with in and out strategy in Gold. Sell near to resistance with tiny stop loss is good for trading. Recent high is crucial in Gold and unlikely to sustain above 32000 in near terms Gold has support at 31130 and Resistance at 31330—31450 If it unable to breach its support level of 31130 then it could test its resistance level of 31330—31450. Further upside rally will see only close above 31450 mark. Close above 31450 will see further upside rally till 31600—31700 and then to 31850 mark.