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MCX GOLD: Tips & Update

Have you traded MCX GOLD?
Click here: Will Gold survive above the 55000 level?

Free mcx gold chart calls

I had written clearly,”Currently, gold is showing a bullish sentiment, which may lead to the following targets: 54740 – 54900 – 55000+.”

Timeline:
[13 December 2022]

  • 07:00 PM – GOLD reached all targets in a single candle and made a high of 55047.

If you have traded this setup, you could have made more than 900 points in just two trading sessions. (To become a subscriber, subscribe to our free newsletter services. Our service is free for all.)Continue reading

MCX CRUDEOIL & GOLD – Big Pictures

Bearish signals remain for crude oil price

free mcx crude oil daily chart xalls

Timeframe: Daily
After making a high of 9996, the price started forming a descending channel. The channel has been occurring for more than 39 weeks. 7735 was a crucial resistance level where the price tried to test for three attempts but failed to maintain bullish momentum.

The price has broken down the descending parallel channel and closed below the recent lower low to create a new low. Bearish momentum can lead price to the following targets: 5700 – 5600.

Trade will be invalid if the price sustains above the upper band of the descending parallel channel.

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Will Gold survive above the 55000 level?

Free mcx gold chart calls

Timeframe: Daily

MCX GOLD has broken out of the 10-week-old upper resistance band of the parallel channel and moving forward to the crucial resistance of 55000.

After breaking the swing high of 53663, the price faced resistance until demand pressure turned the level into support. Currently, gold is showing a bullish sentiment, which may lead to the following targets: 54740 – 54900 – 55000+.

Note: the resistance line is currently providing support after the breakdown, but closing into the channel will increase selling pressure.

We will update further information soon.

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