The short-term trend for Gold has turned positive as the 20-DMA has crossed the 50-DMA.
Key momentum oscillators like the 14-day RSI, MACD, ADX index and the Stochastic Slow have all given a positive divergence on the daily charts.
Hence, we may witness some more upside. However, fresh gains can be expected on sustained trade above Rs 30,500, which has become a minor hurdle.
On the downside, the Gold December futures are likely to get strong support around Rs 29,500-odd levels.
Click Here for the daily support and resistance levels.
Key momentum oscillators like the 14-day RSI, MACD, ADX index and the Stochastic Slow have all given a positive divergence on the daily charts.
Hence, we may witness some more upside. However, fresh gains can be expected on sustained trade above Rs 30,500, which has become a minor hurdle.
On the downside, the Gold December futures are likely to get strong support around Rs 29,500-odd levels.
Click Here for the daily support and resistance levels.
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