Weekly Outlook of MCX Gold
In June, XAUUSD and MCX Gold crash due to FOMC events. It has recovered almost 60% to 70% loss in the July month. You can read the previous articles of Gold to catch the next move.
https://in.tradingview.com/chart/GOLD1!/YoMHVuMA-Outlook-MCX-Gold-downtrend-stopped-at-46720/
This week gold may remain downside until it breaks the levels of 48520. It can be up to 47580 - 47200. But, once it crossover the 48520 levels, then it will become unstoppable again. And we will see 49000 - 49500+ levels soon.
Watch significant releases or events that may affect the movement of gold, silver, crude oil, and natural gas:
Wednesday, Jul 21, 2021
02:00 API Weekly Crude Oil Stock - Medium Impact
20:00 Crude Oil Inventories - High Impact
20:00 Cushing Crude Oil Inventories - Medium Impact
Thursday, Jul 22, 2021
20:00 Natural Gas Storage - Low Impact
https://in.tradingview.com/chart/GOLD1!/YoMHVuMA-Outlook-MCX-Gold-downtrend-stopped-at-46720/
This week gold may remain downside until it breaks the levels of 48520. It can be up to 47580 - 47200. But, once it crossover the 48520 levels, then it will become unstoppable again. And we will see 49000 - 49500+ levels soon.
Watch significant releases or events that may affect the movement of gold, silver, crude oil, and natural gas:
Wednesday, Jul 21, 2021
02:00 API Weekly Crude Oil Stock - Medium Impact
20:00 Crude Oil Inventories - High Impact
20:00 Cushing Crude Oil Inventories - Medium Impact
Thursday, Jul 22, 2021
20:00 Natural Gas Storage - Low Impact
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