### **Gold Futures (MCX) 4H Chart Forecast**
#### **Key Levels:**
- **Resistance:**
- **89,500 - 91,000 INR** (Upper boundary of the trend channel)
- **Support Zones:**
- **87,930 INR** (First minor support)
- **86,665 - 86,149 INR** (Stronger support)
- **85,000 INR** (Major downside target)
#### **Technical Outlook:**
- Gold futures are currently trading around **88,682 INR**, still inside the **ascending channel**.
- **Potential Bullish Scenario:**
- If gold **sustains above 87,930 INR**, it may test **89,500 - 91,000 INR**.
- **Potential Bearish Scenario:**
- If gold **breaks below 87,930 INR**, it could drop to **86,665 - 86,149 INR**.
- Further breakdown below **86,000 INR** could push prices toward **85,000 INR**.
#### **Trading Strategy:**
- **Buy on dips** near **87,930 - 86,665 INR**, targeting **90,000 INR**.
- **Sell below 87,930 INR**, targeting **86,149 - 85,000 INR**.
- Watch for a **breakout above 89,500 INR** for a bullish push toward **91,000 INR**.
#### **Key Levels:**
- **Resistance:**
- **89,500 - 91,000 INR** (Upper boundary of the trend channel)
- **Support Zones:**
- **87,930 INR** (First minor support)
- **86,665 - 86,149 INR** (Stronger support)
- **85,000 INR** (Major downside target)
#### **Technical Outlook:**
- Gold futures are currently trading around **88,682 INR**, still inside the **ascending channel**.
- **Potential Bullish Scenario:**
- If gold **sustains above 87,930 INR**, it may test **89,500 - 91,000 INR**.
- **Potential Bearish Scenario:**
- If gold **breaks below 87,930 INR**, it could drop to **86,665 - 86,149 INR**.
- Further breakdown below **86,000 INR** could push prices toward **85,000 INR**.
#### **Trading Strategy:**
- **Buy on dips** near **87,930 - 86,665 INR**, targeting **90,000 INR**.
- **Sell below 87,930 INR**, targeting **86,149 - 85,000 INR**.
- Watch for a **breakout above 89,500 INR** for a bullish push toward **91,000 INR**.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.