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MCX GOLD 1 KG Technical Analysis - Gold trading above golden ratio , will favor bulls. (Updated On 14th July 2014, Monday).


MCX GOLD 1 KG




  • As per our previous post published on 10th July 2014, MCX GOLD made a strong up move after breaking its resistance. (Click here to see our past report on MCX GOLD).
  • Daily chart indcates GOLD is now trading above 60% fibonacci retracement (golden ratio), as long as trades above gold will favor bulls and can test its nearest top around 29000.
  • Daily chart also indicates if gold moves up then will find strong trend line and 200 days moving up average around 29000. Only closing above its resistance will give further clear bull rally.
  • Weekly chart indicates stock trading above 23.6% fibonacci retracement and will we facing strong resistance around 29300. (38.2% fibonacci retracement & 50 weeks moving average).




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2- Intraday

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Intraday trading which takes place for that very particular day and there is no delivery..they can be bought and sold the same day...and are automatically sold at the end of the trading session if you have not sold it by yourself during the trading session. The person who suggest such types of forecast is called

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