Tuesday, July 12, 2011

MCX Gold Tips- Bullion Updates

MCX Gold is likely to show some corrective moves from here after making handsome gains from last few sessions. A dip lower is expected before the next higher swing and MCX gold can now looking for the lower levels like 22400-22300 after which further new buying are going to be initiated for next higher move. But a close below 22200 will be enough to negate the above view and it can face some serious sell offs after that.

On upper side 22670 will act as crucial level. Above the same Gold may fly to some more upside levels like 22700-850.

Intraday traders are advised to Sell Gold (August) below 22480 for the targets of 22450-400-380 stoploss above 22550.


Posted By Commodity MCX Tips