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Mcx Gold Weekly View 27th Mar – 31st Mar

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Last week selling was initiated on tuesday below 28410 for which stoploss hit on same day & buying was initiated above 28600 which made high of 28948 , as per weekly trading levels 1st target meet at 28800

 

27th & 28th March is Gann date for Mcx Gold , we can expect some volatility or we can see short term top or bottom over there..

 

Secret Angle Method

 

As per secret angle method setup we are we above 50% which show bulls are in full control , below 28510 bears can get active if we get close below 28510

 

Harmonic Pattern

 

ABCD harmonic pattern is there on daily chart in process , for which target is coming 30390 – 30950 

 

Supply Demand 

 

28599 & 28390 will act as strong demand zone if we witness fall near to these levels

 

Mcx Gold Trend Changing Level 28720

 

Gold Weekly Trading Levels

Buy Above 28970

Target – 29120 / 29300 / 29550

Sell Below 28700

Target – 28550 / 28370 / 28220

 

 

. Please note above mention levels are of Mcx Gold 05th April 2017 contract

. Always trade with stoploss & book partial profit as 1st target reach or trail stoploss

 

NOTE : THESE ARE MY PERSONAL TRADING VIEWS , BEFORE TAKING TRADE KINDLY CONSULT YOUR TRADING ADVISOR & KINDLY SEE DISCLAIMER

 

 

 

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About the Author

Divesh Jotwani is a Full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day in and out markets.