MCX GOLD future weekly call for 14 to 18th JAN
gold future this week closed at 31928 with huge gain. this week gold prices rallied from low of 31448 to highs of 32135 rupees.
gold future almost hit january series bullish swing target of 32200, now watch for next big move towards 33100 if breakout happens!!
for next week, gold future if gives breakout above 32250 then expect bullish trend and upside short covering rally up to 33100+ rupees.
but fails then expect correction and consolidation towards 31300 support zone.
for next week, mcx gold support are around 31850 and then 31600 rupees.
from investment view, gold above 30850 rupee level will remain buy and accumulate for targets of 33000 and above.
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