January 05, 2012

MCX Bullion Gold Tips for Today

MCX gold is up in trend and observed with a higher bottom but this uptrend is more declined towards negative. Intermediate term trend is down as there is a lower top lower bottom formation on the daily chart. For today mcx gold is in Sell mode. Historically, it is observed that gold prices has taken support on 21 EMA which is currently near 27000 levels. A sustained breakdown below this level will see another round of downside in gold for targets of 25000 and 23000.

MCX Gold (Feb) short below 27000 with target of 25000 levels and stop loss of 29510 levels.

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