MTECHTIPS MCX GOLD INTRADAY trading tips 05-06-2017

MTECHTIPS MCX GOLD INTRADAY trading tips 05-06-2017
MTECHTIPS Mcx gold future in month of May closed at 28810 with gain. This was second gaining month for gold prices and in these 2 months prices taking support around 28250. This month gold future recorded low at 27900 while high was around 29000. Total 1100 rupee or 4% range and flat closing on consolidation. For month of June 2017, mcx gold future outlook remain bullish above 28580 level only. Daily chart price pattern and indicators are bullish but suggesting upside for this precious metal in June series. Above 28580, mcx gold will remain buy on dips and expect positional targets around 29200 and then 29650. Below 28580 on daily closing basis, trend will change and downside might be expected towards 28200 to 27500. Bullion Commodity traders above 28580 keep buying view with stop loss below major bottom of 28500 rupees and keep targets at 29200 and then 29650 for month of June 2017. From long term view, gold future is range bound and taking multiple supports at 28300 which is very bullish sign from long term view and expect upside investment target at 31600 and 35700.
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