The MCX Gold December futures may turn volatile in the near term as key momentum oscillators are in conflicting mode on the daily charts.
On the positive front, MCX Gold December futures so far have managed to find support around the 20-DMA at Rs 29,800-odd levels.
Further, the daily MACD and the 14-day RSI (Relative Strength Index) have given a positive divergence, which favours the bulls.
However, on the flip slide, the daily Stochastic Slow and the ADX (Average Directional Index) have given a negative divergence. Hence, we may witness a sharp movement in the near term.
Click Here for the daily support and resistance level.
On the positive front, MCX Gold December futures so far have managed to find support around the 20-DMA at Rs 29,800-odd levels.
Further, the daily MACD and the 14-day RSI (Relative Strength Index) have given a positive divergence, which favours the bulls.
However, on the flip slide, the daily Stochastic Slow and the ADX (Average Directional Index) have given a negative divergence. Hence, we may witness a sharp movement in the near term.
Click Here for the daily support and resistance level.
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