MCX Gold Technical Analysis

Bursting Setup - Gold

The previous day we discussed about The Bursting Setup formation in 60 Minutes MCX Gold Chart 27 January 2016.

Today we witnessed the breaching of 26809 level. But from the Intraday point of view, it is important for MCX Gold to breach today's High of 26867 which is also the high of Bull Flag. Now if it triggers 26867, we can see the level of 27200 by tomorrow.

MCX Gold - 60 Minutes

The setup seems to be ready followed by a BULL FLAG on the upside. Prices are consolidating. Price Pattern is acceptable. Volume Pattern is acceptable. If MCX Gold Crosses 26867 to the upside, it’ll get into breakout mode. Lets see how it goes.

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