MTECHTIPS MCX GOLD INTRADAY trading tips 16-11-2016
MTECHTIPS Gold is bearish for medium-long term .Currently Gold is in strong downtrend with good momentum 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 29106.Resistance for the Gold is 30049-30097-30125-30421-30725-30898-
Short term and Intraday Level of GOLD
Currently Gold is in SELL position The Gold is in downtrend For short term buy only if close above 29738.0 The Gold is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 29589.6 with a stop at 29156.3 Below 29051.3 go for sell.