MCX Gold Price Forecast Below 47754 Sell Sell Sell Target… Neal Bhai
MCX Gold 1st Target – 46100
MCX Gold 2nd Target – 45100
MCX Gold 3rd Traget – Target Open (42800—40800)
Technical Power of CFA’s
(CHARTERED FINANCE ANALYST)
“No Magic, No Miracle, Just Power of Level”
Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical Team
Mobile No. 9582247600 & 9899900589
The technical picture at the moment supports consolidation. However, the price is inclined towards making minor declines while narrowing towards the short term support areas at the 100 SMA, currently at 1,718.25 and the 50 SMA at 1,713.02. It is likely that consolidation could last longer, especially when the sidelong moving MACD is taken into account.
All in all the impact of the H&S pattern cannot be ignored especially with the dollar gaining strength.
