Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

How long the Bounce in MCX Gold long lasting?

27 sec read

gold

 
Now gold is trading at 27000 & as we can see on charts , after reaching to the 1st resistance area gold is consolidating from last 2 days. However the last move build a hope for an upside rally in coming days as well as a day close above 50% feb correction level also support a positive move. However as mention earlier this bounce didn’t occurred from an ideal chart structure , we need to be more careful while it reaches to any resistance zone. Candlestick pattern is positive while indicators are neutral now.

Based on above studies, we will prefer to buy gold on some dip for possible upside targets around 27600 & may be 28100 then. While a fall & day close below 26330 will invalidate any upside hope once again.

Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

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