Gold Quant Analysis: 25/Feb/19

MCX Gold April futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last sessions ended up bullish in trend after few negative rallies inside the channel, where the market is expected to continue on bullish momentum. The positive rally could be extending all the way up to 33650-33750 levels in the upcoming sessions. An alternative scenario indicates that if the market breaks below a key support holding at 33400 then it might revise the trend to 33300-33750 levels. Key resistance holds at 33750.