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Gold techncial outlook on the basis of stochastic

MCX Gold April contract inched 472 rupees down to settle at 26012. Gold April made low of 25962 but couldn’t break 25950 strong support level. Stochastic has given a sell signal near 60 zones and likely to keep this metal under pressure in coming days. Today support would be at 25950 any move below this level the next supportive zone is 25500 then 25000, in the upside Resistance is now seen near 26270 for intraday traders; any move above this level then we will see 26400-26500 zones. 

MCX Gold trading range for the day is expected among the key support at 25950 and resistance at 29270.

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