Overall, MCX gold is collapsing. Look at the chart, if it breaks a low of 48924, we may see freefall up to 48500 – 48360.
According to 50 MA, gold will try to push the upside. If we see the gold closing price above the second top of the trendline, it will start rising to the levels of 49760 – 50000.
Here ADX is less than 25 and 200 MA throwing a direct sell signal. Please note the crossing of +DI and -DI before taking a new entry.
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
Get free MCX ideas, chart setups, and analysis for the upcoming session: Commodity Tips →
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.
Disclaimer: The information provided on this website, including but not limited to stock, commodity, and forex trading tips, technical analysis, and research reports, is solely for educational and informational purposes. It should not be considered as financial advice or a recommendation to engage in any trading activity. Trading in stocks, commodities, and forex involves substantial risks, and you should carefully consider your financial situation and consult with a professional advisor before making any trading decisions. Moneymunch.com and its authors do not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be held responsible for any losses or damages incurred as a result of using or relying on such information. Trading in the financial markets is subject to market risks, and past performance is not indicative of future results. By accessing and using this website, you acknowledge and agree to the terms of this disclaimer.
Gold hit 50400..Ng view pls