mcx gold

Gold -The unit sold off aggressively from the 976 high, taking out channel support at 954 as well as last week’s low near 951. Gold has since touched the June high support of 946. The break and close below the channel support turns our view neutral. The risks have turned toward further losses in the days ahead, with next support seen at 942. Stale longs may look to exit now, close to 955.Now support for the gold MCX is seen at 12911 and below could see a test of 12748. Resistance is now likely to be seen at 13351, a move above could see prices testing 13628.

Trading Ideas:

TRADING RANGE IS 12748-13628.
SELL GOLD @ 13156-180 SL 13260 TGT 13000-12940-12845-12680. MCX
A BREAK OF 12960 ADD SHORT FOR TGT 12860-12845-12680. MCX
REMEMBER EVE WEAK SAME AS YESTERDAY

MCXARUN
9994500540