Tuesday, August 16, 2011

MCX Gold Updates: Evening Outlook and Trading Strategy

MCX gold (October ) Futures is expected to touch 26210 if it manages to stay above 26000 mark. After recovering from recent dips, prices recovered its momentum and now looking for a consolidation phase of 26200-26400. A direct fall below 25850 may invite unexpected downtrend in Gold and it may slip down to 25780-25750. A dip till 25900 could be taken as good opportunity to take new positions in Gold Futures.
Traders can Buy Gold above 26200 to target 26250-70-26300

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Posted By Commodity MCX Tips