MCX GOLD price after breaching the strong resistances level of Rs 26700 gave a sharp rally and made a new life time high of Rs 27887. Currently price is headed towards the strong resistances of Rs 29032. The 14-period RSI is above the 80 mark and is pointing higher which indicates over bought position.
Further, if the price continues to hold above the level of Rs.27000 we could see an extended rally till Rs.29050 level.
Trading Strategy -- Buy MCX GOLD for targeting Rs.29032, with the stop loss closing below Rs.26850 level.
Further, if the price continues to hold above the level of Rs.27000 we could see an extended rally till Rs.29050 level.
Trading Strategy -- Buy MCX GOLD for targeting Rs.29032, with the stop loss closing below Rs.26850 level.
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