Gold Guinea Eye Breakout – Bulls Test Crucial ₹78,500 ResistanceMCX Gold Guinea shows a strong bullish recovery back toward a key resistance zone near ₹78,400, after bottoming out around ₹77,000. The recent rally has been steady, forming higher lows and higher highs—indicating short-term bullish momentum is building up. The price action has now reclaimed the consolidation range it was stuck in earlier (between ₹77,500 and ₹78,500), suggesting buyers are regaining control.
However, ₹78,500–₹78,800 remains a crucial resistance area, as it previously acted as a supply zone before the breakdown on June 24th. The current candles are small-bodied and forming near resistance, hinting at buying exhaustion or profit booking. If the price manages to close above ₹78,800 with strength and volume, it may open up a fresh leg toward ₹79,200 and eventually ₹79,800.
On the flip side, failure to break and hold above ₹78,500 could lead to a pullback to ₹77,800 or even ₹77,500, which now acts as immediate support. Until a breakout above the resistance range is confirmed, the structure remains cautiously bullish but not yet in a full uptrend.
