Gold Futures (MCX) – Key Levels & Trend Outlook

📌 Gold Futures (MCX) – Key Levels & Trend Outlook
Gold Futures (MCX) is currently trading near a critical support zone of ₹88,500-₹88,000. Holding above this level could trigger fresh buying, leading to an upside move towards ₹90,000+. However, immediate resistance is seen in the ₹88,700-₹89,500 range, which needs to be breached for further strength.

🔍 Technical Indicators:
📊 200-Day EMA: ₹88,200 – Acting as dynamic support; sustaining above this level strengthens the bullish outlook.
📈 RSI (Relative Strength Index): Currently around 55 – A breakout above 60 could confirm bullish momentum.
📉 MACD (Moving Average Convergence Divergence): Close to a bullish crossover, signaling potential upside strength.
📊 Volume Analysis: Rising volumes on rallies suggest strong buying interest, while lower volumes on dips indicate weak selling pressure.

📌 Key Levels to Watch:
✅ Support Zone: ₹88,500-₹88,000
📍 Resistance Zone: ₹88,700-₹89,500
🚀 Upside Target: ₹90,000+
🚨 Breakdown Level: Below ₹88,000 could lead to weakness.

A break above ₹89,500 could fuel bullish momentum toward ₹90,500-₹91,000, while a fall below ₹88,000 may invite further downside pressure. Keep an eye on global gold prices, USD movement, and central bank policy cues for confirmation.