MCX Gold Short Term Bearish

We maintain our bearish view in MCX Gold as prices have been in an downtrend since the past six months forming lower tops and flat bottoms within the channel (C-S). Prices failed to sustain at higher levels and have resumed bearish trend, further we expect prices to trade lower for the target of Rs. 26000.

About Kotak Commodities

Kotak Commodities is promoted by the Kotak family that has decades of experience in commodity trading, they have a full-fledged research division involved in macro & commodity complex research and commodity specific research. This is combined with a strong and well networked sales force, which helps deliver current and up-to-date market information and news. For more information visit their website. http://www.kotakcommodities.com/