Gold future daily chart technical analysis
Gold future on Friday closed at 31598 with loss. On daily chart Gold future price trend and momentum both are bullish. Gold future on chart now trading above all short term averages with bullish signals on indicators.
For month of January, Gold future above 31350 will remain buy on dips and on upside my technical target zones will be around 32400 and then 33100 rupees. Gold future if slips below 31350 then that will be shorting opportunity with stop loss for big downside targets of 30600 to 29550. Here global equity markets volatility and Indian rupee trend will matter most in upcoming time.
Gold future weekly chart technical analysis
Gold future on weekly chart showing gains for this week. This was the first gaining week for Gold prices after last 2 weeks fall. On weekly chart, mcx gold future price trend and momentum both looking bullish now after correction up to 31,000.
From 2019, Gold future above 30850 will remain bullish and buy and accumulate for investment targets of 32900 and then possibly 34400. If gold prices slips below 30850 on weekly closing basis then must exit longs and expect lower levels up to 29400 and below.
Gold future monthly chart technical analysis
Gold future on monthly chart showing huge gains for month of December. This was the first gaining month for Gold prices after strong correction in November series. On monthly chart 30200 look like strong support zone and 32400 will remain as top resistance and moves above or below this levels will show big targets.
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