MTECHTIPS MCX GOLD INTRADAY trading tips 02-12-2016
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 .. The Gold is now trading in oversold level. The Gold is now trading in oversold level. The oscillator is showing SELL signal For short term Gold is in HOLD SHORT position.Positionally Immediate support for Gold is 27769.Resistance for the Gold is 28834-29051-29548-29874-30313-30575-
Short term and Intraday Level of GOLD
Currently Gold is in HOLD SHORT position Gold has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below27580.7 Buy if above 28872.0 The Gold is now trading is approaching oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 28260.4 with a stop at 27722.4 Below 27580.7 go for sell.