MCX Gold
MCX Gold is looking bullish in long, medium and short term. In its last trading it has closed its trading in a bull phase. Currently Gold is in uptrend and the trend is supported with good volume The open interest is not increasing with trend. The Gold is now trading in overbought level. The oscillator is on SELL signal and Gold is coming down from overbought level For short term Gold is in SELL position. It has a critical support at 28243-28098 and a strong resistance at 28962-29120.
MCX Silver
MCX Silver July contract is trading in a bearish mode for medium and long term. Currently Silver is in strong downtrend and the trend is supported with good volume The open interest is not increasing with trend. But it a good time to buy silver on an intraday basis to gain huge profit. The oscillator is showing BUY signal For short term Silver is in HOLD SHORT position. It has a strong resistance at 55494-55760 and a immediate support at 54055.
