Gold Technical Comment For The Day

MCX Gold Reports:

For the fourth consecutive session MCX Gold showed constructive moves. Tuesday session proved marginal beneficial for the commodity and the prices ended at Rs 27258 per 10 grams. The metal tested a high of Rs 27359 per 10 grams and a low of Rs 27006 per 10 grams. The prices are now facing active resistance of Rs 27500 and per 10 grams. On the lower side, the supports for Gold are emerging at Rs 27000 per 10 grams. The chart patterns still depict lower highs for the metal and the bearish phase does not look over. Still vulnerable for aftershocks Gold can move towards Rs 27000 and 26500.

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