Mcx Gold Weekly Outlook - MCX Gold August as seen in the weekly chart above has opened the week at 26,935 levels and made a low of 26,738 levels. This week prices could not sustained at lower levels rallied sharply higher and made a high of 27,245 levels. This week prices closed above the previous week’s closing of 26,894 levels and finally closed 0.70% higher at 27,081 levels. Technically, as per the candlestick pattern prices have formed “Bullish candlestick” indicating positive moves.
Mcx Gold Support Level :
For the next week we expect Gold prices to find support in the range of 26,800 – 26,850 levels. Trading consistently below 26,800 levels would lead towards the strong support at 26,500 levels and then finally towards the major support at 26,100 levels.
Mcx Gold Support Resistance Level :
Resistance is now observed in the range of 27,350 – 27,400 levels. Trading consistently above 27,400 levels would lead towards the strong resistance at 27,750 levels, and then finally towards the major resistance at 28,000 levels.