March 19, 2012

MCX Gold Tips Weekly Trend

MCX Gold April 28015 levels and then sharply corrected up to 27312 levels, but not able to breached the strong support level of 27300 levels and prices rallied sharply from support level to 28535 levels. MCX Gold prices found very good resistance at 28500 levels. For this week we expect gold prices to find resistance at 28150 - 28250 levels and further above strong resistance is seen at 28500 - 28600 levels. Trading consistently above 28250 levels would trigger sharp rally up to 27500 levels. Strong Support is now observed at 27300 - 27200 levels.

Gold Tips (Weekly Recommendation) For 19 March to 23 March:

MCX Gold (April) is advised to sell between 28100 - 28200, SL-28600, Target - 27500 / 27300.
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