MTECHTIPS MCX GOLD INTRADAY trading tips 07-11-2016
MTECHTIPS Gold is bearish for medium-long term .Currently Gold is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . In last few days lot of positive accumulation happened in the Gold Cautious point is buying at higer levels seems decreasing. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Gold is 30355-30058-29953-29810-.Resistance for the Gold is 30868-30963-
Short term and Intraday Level of GOLD
Currently Gold is in HOLD LONG position Gold is in profit booking mode so hold with stop at 30309 The Gold is now trading in highly overbought level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 30863.5 with a stop at 30373.7 Below 30251.5 go for sell and put stop at 30740.