MTECHTIPS MCX GOLD INTRADAY trading tips 06-10-2016
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 .. 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.Positionally Immediate support for Gold is 29671.Resistance for the Gold is 30872-30950-30991-31081-31238-31250-
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 below29665.6 Buy if above 31240.0 The Gold is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 30167.2 with a stop at 29760.9 Below 29665.6 go for sell.