MCX Gold Updates : Tips Trend Today

MCX Gold Tips Trend Trading Strategy Today|Live Commodity Rates 23 February:- We may see Gold prices trade in the range of $1800/Oz-$1600/Oz for some more weeks, but in the long run from 1 ½ years perspective, we expect the gold hit target of $2170/Oz and $2242.9/Oz. Our view remains firmly in place as long as gold prices do no close below $1480/Oz on weekly basis.

• Key levels for the day: Downside: Immediate 1742-1736/1715/1702-1700
• Upside: Minor 1780 then 1800/1840. 
• Buy on dips to 1742 target 1765 SL below 1732
• Buy on dips to 1725 target 1754 SL 1715.
• Buy at 1702 target 1752/1770 SL 1698
• Confirm selling below 1660 target 1642/1625 SL 1690. 

Downside turn around point is at 1660. Day’s bias likely to continue the broad bullish prospective, but a dip lower is favored before resuming such strong bullishness. It would require breaking 1736 to negate intraday bullishness. 

<---Get MCX BULLION TIPS Fill The FREE TIPS Form

Read more »