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MCX Gold can fall sharply if it breaks 100-WMA; Silver needs to win 100-DMA

The MCX Gold October futures 100-WMA is placed at Rs 48,900, sustained trade below which can trigger a 10 per cent slide. Silver futures need to conquer multiple hurdles.

Topics
Gold  | Silver | Commodity derivatives

Rex Cano  |  Mumbai 



Photo: Bloomberg
Photo: Bloomberg

The MCX futures cracked heavily in trades last week, but somehow managed to hold the 100-WMA support. In case, the yellow metal breaks the 100-WMA support, a sharper fall of around 10 per cent cannot be ruled out, indicates the daily chart. Meanwhile, futures despite the recovery need to conquer multiple hurdles on the upside for the overall trend to turn favourable.

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First Published: Mon, September 19 2022. 09:14 IST

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