The MCX Gold December futures has bounced back smartly after testing support around the 200-DMA at Rs 28,350-odd levels.
The MCX Gold has now jumped above the 20-DMA at Rs 28,570-odd levels.
Key momentum oscillators like the 14-day RSI, MACD and the Stochastic Slow are all in favour of the bulls.
In the near term, MCX Gold is likely to trade with a positive bias as long as the yellow metal trades above Rs 29,350-odd levels.
On the upside, Gold can surge to Rs 30,700-odd levels.
Click Here for the daily support and resistance levels.
The MCX Gold has now jumped above the 20-DMA at Rs 28,570-odd levels.
Key momentum oscillators like the 14-day RSI, MACD and the Stochastic Slow are all in favour of the bulls.
In the near term, MCX Gold is likely to trade with a positive bias as long as the yellow metal trades above Rs 29,350-odd levels.
On the upside, Gold can surge to Rs 30,700-odd levels.
Click Here for the daily support and resistance levels.
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