The MCX Gold December futures has for the last four trading days somehow managed to hold its neck above the 20-DMA, which is around Rs 29,690-odd levels.
Going ahead, the Rs 29,700-odd level is likely to remain a crucial support for the Gold prices.
In case, Gold breaks and consistently trades below Rs 29,700-odd levels, we can witness a sustained fall to Rs 28,750-odd levels.
However, on the positive front, in case Gold is able to sustain above Rs 29,700-odd levels, a pull-back to Rs 30,500-odd levels can be possible.
Key momentum oscillators on the daily charts are on the verge of turning negative, while the weekly momentum oscillators are in neutral mode.
Click Here for the weekly support and resistance levels.
Going ahead, the Rs 29,700-odd level is likely to remain a crucial support for the Gold prices.
In case, Gold breaks and consistently trades below Rs 29,700-odd levels, we can witness a sustained fall to Rs 28,750-odd levels.
However, on the positive front, in case Gold is able to sustain above Rs 29,700-odd levels, a pull-back to Rs 30,500-odd levels can be possible.
Key momentum oscillators on the daily charts are on the verge of turning negative, while the weekly momentum oscillators are in neutral mode.
Click Here for the weekly support and resistance levels.
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