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Mtechtips GOLD MCX intraday trading analysis 08-10-2012
Mcx gold dec
expiry future is now active contract for trading as oct future expired. on last
trading closed at 31,178 with gains of +0.25%.on daily chart gold is maintained
its short term uptrend as closed above 3 month average and weekly average in
last 2 sessions.on upside now 31,400 is monthly level resistance. we are
bullish on gold and we have long positions in gold futures.for long positions
stoploss must be below 3 month level of 30,900 on closing basis. as gold future
given 1/3 correction of rally,which is considered as healthy correction and if
prices hold here there is much more probability that in upcoming time mcx gold
future may break recent high of 32,300. we are bullish on comex gold also and
above 1810 we will see 1900 and 2030 as target levels with medium term view.
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