Gold Carry Call – BUY Gold at CMP 31172 Add more at price 31100 with SL 31040 for Target 31280 – 31360 RISK Taker trade with 2 lots
MCX Gold closed up on Tuesday, as the dollar rallied to fresh 2018 highs, weighing on demand for the yellow metal. On the daily chart, price has taken a support of rising trend line, which indicate reversal in price. In addition, price has sustained above 21 days SMA ;which intimate medium term trend remains bullish. Furthermore, momentum indicator RSI shown positive crossover on daily chart; which Adds more bullishness to the price. Therefore, we expect positive movement in the gold towards 31350.