Gold MCX Analysis
Current Status: Gold MCX is currently in a consolidation phase with no clear trading direction.
Key Levels to Watch:
Support Break: To establish downside momentum, watch for a break below 58880, which may signal a potential downtrend.
Immediate Resistance: The immediate resistance zone is 59265-70. If the price approaches this level, it might face selling pressure.
Fresh Buying: Consider new long positions if the price rises above 54450.
For Long Positions:
If you are already holding long positions, it's advisable to set a stop-loss (SL) at or below 58880 to manage potential losses.
Note: Trading involves risks. Ensure you have a well-defined strategy and risk management plan.
Current Status: Gold MCX is currently in a consolidation phase with no clear trading direction.
Key Levels to Watch:
Support Break: To establish downside momentum, watch for a break below 58880, which may signal a potential downtrend.
Immediate Resistance: The immediate resistance zone is 59265-70. If the price approaches this level, it might face selling pressure.
Fresh Buying: Consider new long positions if the price rises above 54450.
For Long Positions:
If you are already holding long positions, it's advisable to set a stop-loss (SL) at or below 58880 to manage potential losses.
Note: Trading involves risks. Ensure you have a well-defined strategy and risk management plan.
Trade closed: target reached:
Gold Update
Gold has met the target as anticipated.
Success in line with expectations. Keep a watchful eye on further developments.
Gold has met the target as anticipated.
Success in line with expectations. Keep a watchful eye on further developments.