Is Gold Price Setting Up for an Uptrend?
MCX gold overall trend is upward. The position can be initiate at 52360. It will keep moving upward after consecutive closing above to the control price. And we may see prices at 53000 – 53660 – 54000 – 54600+ levels.
Don’t forget to follow the control price (CP). If gold breakdown CP, it may fall for 51360 – 51000 – 50500 – 50000 levels. Watch out the selling level on the chart.