MCX Gold And Silver Trend- Commodity Updates

MCX Gold Trend
The initial Support range for Gold is seen near 22300-280 regions. Above this region higher rallies upto 22570-600 are still expected initially and if hovered above the same, with volume, would call for fresh short covering rallies later. However a turn lower from 22570-600 if materialize could draw out the momentum till 22300 followed by 22200/280, but doubtful to
activate broad selling pressure unless close below 22150.

MCX Silver Trend
As long as 55800 hold, prices still have rooms for upside towards 59000/59900, but major rallies are anticipated only on the breakout above 60000. Intraday, early moves expect to be positive but doubtful to clear above 59000-900 region, which would cause for a corrective selling later. A direct rise above 60000, the upside objective is seen at 63000/67000.


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