MTECHTIPS MCX GOLD INTRADAY trading tips 07-10-2016
MTECHTIPS MCX Gold is bearish for medium-long term .Currently Gold is in strong downtrend and the trend is supported with good volume The open interest is not increasing with trend . In last few days volume based selling happened in the Gold. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing SELL signal For short term Gold is in SELL position and closed below 1 month low with volume signals down breakout.Positionally Immediate support for Gold is 29432.Resistance for the Gold is 30774-30867-30902-31033-31210-31239-
Short term and Intraday Level of GOLD
Gold and closed below 1 week low with volume signals down breakoutCurrently Gold is in HOLD SHORT position The Gold is in downtrend For short term buy only if close above 30267.0 The Gold is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 29852.8 with a stop at 29407 Below 29298.1 go for sell.