MCX Gold April contract traded below 55 days linear regression which suggests more sellers. It tested lower levels of 20469 during the previous week.14 days RSI in daily chart is at 52 which suggest short term weak trend.
MCX Gold April contract opened at 20974 per 10 gram. It tested intraday low of 20855 and last traded at 20874 down by 79 rupees. The contract faces resistance near 21130 while its support is seen near 20760.
Short term traders can sell MCX Gold April contract near 20960 with stop loss of 21120 and can wait for target of 20860.