MCX April Gold
Comex Gold dived to as low as USD1190/0z last week, but a strong rebound from those levels kept the prices in a positive tone by forming a “bullish hammer” candlestick pattern on weekly charts. This signifies that the temporary bottom has formed at the recent lows and uptrend is intact for the near- future to test 38.2% Fibonacci level of USD1235 level s.
Hence, any fall can be hold at 1200 mark and bring some buying pressure from the same. MCX Apr Gold too ended as a bullish hammer on weekly charts. Further rally can see towards 26560 & 26780 levels, where as a support lies at 26950 levels.
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