Gold Futures (MCX) – Technical Analysis Report - Rupeedesk Share Market Training Chennai - 17.03.2025
Gold Futures (MCX) – Technical Analysis Report - Rupeedesk Share Market Training Chennai - 17.03.2025
%20%E2%80%93%20Technical%20Analysis%20Report%20-%20Rupeedesk%20Share%20Market%20Training%20Chennai%20-%2017.03.2025.jpeg "Gold Futures (MCX) – Technical Analysis Report - Rupeedesk Share Market Training Chennai - 17.03.2025")
Gold Futures (MCX) – Technical Analysis Report - Rupeedesk Share Market Training Chennai - 17.03.2025
Gold Futures (MCX) – Technical Analysis Report
Chart Pattern & Trend Analysis
- Gold futures continue to trade in a strong uptrend, forming a series of higher highs and higher lows.
- Recent breakout above 87,000 signals bullish momentum, with immediate resistance at 87,900-88,000.
- Key support observed at 86,300, with a strong demand zone around 86,755.
- The market structure aligns with the accumulation and uptrend phases.
- Corrections have been met with strong buying interest, reinforcing the bullish outlook.
Key Market Events & Economic Indicators
- Upcoming Federal Reserve Meeting (March 18-19) – Possible rate cut speculation may impact gold prices.
- US Retail Sales Data Release – A weaker-than-expected print could support further upside in gold.
- Geopolitical & Trade Developments – Market sentiment remains sensitive to global trade tensions and inflation concerns.
Moving Averages Analysis
- Short-term: Price trading above the 50-SMA, confirming immediate bullish momentum.
- Long-term: The 200-SMA and 390-SMA remain below current price levels, further reinforcing the uptrend.
Volume & Momentum Analysis
- Breakout accompanied by increased volume, confirming buying pressure.
- RSI (Relative Strength Index) at 46.51 – Currently cooling off from overbought levels, indicating a possible short-term consolidation.
Trend Confirmation & Risk Assessment
- Bullish Confirmation: Sustained price action above 87,000 validates continuation of the uptrend.
- Bearish Risks: A breakdown below 86,300 may indicate a potential reversal or deeper correction.
Final Outlook
Gold futures maintain a strong bullish bias, supported by technical indicators and macroeconomic factors. Traders should monitor key support and resistance levels while aligning positions with market-moving events.
Disclaimer: This analysis is for educational purposes only. Please conduct your own research before making investment decisions.
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