Although gold prices have been declining in the international markets, but are trading steadily & with a positive bias on MCX, mainly due to Rupee’s depreciation against US Dollar. Long‐term support holds at 28,180 (200‐day SMA) & Resistance at 29450. On the indicators: 14‐week RSI is quoting above 50, it’s moving average and have reversed after taking support on the previous resistance line (as marked on the chart), indicating that the trend remains up while momentum indicator MACD & its deviation line are above zero.......
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