MCX GOLD OCTOBER: OUTLOOK 23 Sep 2013- 30 Sep 2013
OPEN: 30050 CLOSE: 29912
HIGH: 30894 LOW: 29277
MCX GOLD opened in week strongly at 30050 and moved lower at level 29277. Again it measured gains
to a level of 30694, however could not sustain it. It went down to test levels till 29836. Closing was
marginally lower than previous week closing.
For this week we can expect Gold prices to have resistance in range of 30610 – 30690. Breaking and
sustaining levels of 30850 would rise the resistance to levels of 31550.
Support can be seen at levels of 29370 – 29250, however trading below levels of 29200 would bring
down the support to 28540.
Recommended trading levels for the week :
R1 – 30610 S1 - 29370
R2 – 31550 S2 - 28540
Weekly Recommendation: Sell MCX Gold October between 30,040-30,110, SL-30,715, Target -29,350.
OPEN: 30050 CLOSE: 29912
HIGH: 30894 LOW: 29277
MCX GOLD opened in week strongly at 30050 and moved lower at level 29277. Again it measured gains
to a level of 30694, however could not sustain it. It went down to test levels till 29836. Closing was
marginally lower than previous week closing.
For this week we can expect Gold prices to have resistance in range of 30610 – 30690. Breaking and
sustaining levels of 30850 would rise the resistance to levels of 31550.
Support can be seen at levels of 29370 – 29250, however trading below levels of 29200 would bring
down the support to 28540.
Recommended trading levels for the week :
R1 – 30610 S1 - 29370
R2 – 31550 S2 - 28540
Weekly Recommendation: Sell MCX Gold October between 30,040-30,110, SL-30,715, Target -29,350.
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