Gold trading recommendations:
Gold February future prices witnessed downfall on yesterday’s trading session by declining as much as -1.21% from previous close.
Initially it made a high of 20050 thereafter it started declining and settled lower at 19678 levels. Closing of the daily candle renders downside movements could be continued.
A mild higher correction is expected before resuming its downtrend. At overseas currently prices are at 1312 down by -6.4 dollars from previous close.
On the lower side support is at 1309 levels on breach and sustains trade below the same leads the prices to remain lower.
At MCX key resistance level is at 19740 levels sustain below is expected to see a lower correction.
Gold MCX: Sell February at 19740 TP 19500 SL 19820
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