Is MCX Gold Stuck Between ₹148000 and ₹155000 Range?
Gold Market Snapshot
MCX Gold futures recently witnessed a decline and touched a low near ₹1,47,950 before recovering slightly. However, the price continues to trade below the 21-day moving average, indicating lack of strong bullish momentum.
Key Levels to Watch
🔹 Support: ₹1,48,000
🔹 Major Resistance: ₹1,55,000
🔹 Higher Resistance: ₹1,62,000
The current price structure suggests a range-bound movement, with no clear directional bias in the short term.
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Trading Strategy
🔹 Range: ₹1,48,000 – ₹1,55,000
🔹 Wait for breakout above ₹1,55,000 for bullish trend
🔹 Breakdown below ₹1,48,000 may trigger downside
🔹 Avoid aggressive positions within range
Investor Takeaway
🔹 Gold is currently in consolidation phase
🔹 Breakout above ₹1,55,000 is key trigger
🔹 Support at ₹1,48,000 remains crucial
🔹 Patience is essential in sideways markets
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SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.
