Gold prices are set to decline further in India, as the MCX Gold December futures have broken below the key long-term (200-DMA) moving average.
Further, key momentum oscillators on the daily and the weekly charts are also in favour of the bears, hence the downside seems more likely.
On the downside, Gold prices can drop to Rs 27,500-odd levels. Bears are likely to rule as long as Gold trades below Rs 28,500.
Click Here for detailed weekly analysis on Gold.
Further, key momentum oscillators on the daily and the weekly charts are also in favour of the bears, hence the downside seems more likely.
On the downside, Gold prices can drop to Rs 27,500-odd levels. Bears are likely to rule as long as Gold trades below Rs 28,500.
Click Here for detailed weekly analysis on Gold.
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