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MTECHTIPS:-Technical Comment For The Day: Gold

MTECHTIPS:-Technical Comment For The Day: Gold

Gold is forming a drop down pattern and the recovery is expected to get sold in the coming sessions. Although the prices recovered in the session ending Thursday further gains will not come that smoothly. The prices ended the session at Rs 26160 per 10 grams against Rs 26057 per 10 grams. Resistance for Gold is towards Rs 26400 and Rs 26500. Support in Gold towards Rs 26000 is active. Gold price tested a high of Rs 26289 per 10 grams on 10 September 2015 and a low of Rs 26042 per 10 grams. Open Interest for October contract was at 7551 as on 10 September 2015.
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