clear and actionable breakdown of your MCX Gold Futures (1-hour chart) based on price action, Fibonacci levels, support–resistance, pivot points, momentum indicators, and fundamentals.
🔶 TECHNICAL ANALYSIS (1-Hour Chart – Gold Futures MCX)
Your chart shows a corrective ABC pattern with Fibonacci retracements — price is reacting at the 61.8% zone, which is a key reversal level.
1️⃣ Trend View
Short-Term Trend
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Currently mild bullish after bouncing from the 0.786 retracement (120,747).
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Price is facing major resistance at the 61.8% retracement (123,299–123,700 zone).
Medium-Term Trend
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Still range-bound between 120,700 (major support) and 126,800 (major resistance).
Long-Term Trend
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Long-term structure is bullish, but momentum has slowed because of global rate expectations and USD strength.
🔶 2️⃣ Support & Resistance Levels
Major Resistance Zones
| Level | Reason |
|---|---|
| 126,881 – 126,900 | 38.2% Fib + previous swing |
| 125,001 – 125,200 | 50% Fib + supply zone |
| 123,299 – 123,700 | 61.8% Fib (major reversal area) |
| 132,687 | All-time swing high |
Major Support Zones
| Level | Reason |
|---|---|
| 122,200 – 122,500 | Intraday support |
| 120,747 (critical) | 78.6% Fib support |
| 117,496 (final) | 100% Fib – full retracement |
🔶 3️⃣ Pivot Levels (1-Hour)
(Approx values based on visible range)
| Pivot Type | Level |
|---|---|
| R2 | 126,850 |
| R1 | 125,100 |
| Pivot (P) | 123,700 |
| S1 | 122,200 |
| S2 | 120,750 |
Price is sitting exactly near Pivot (123,700 zone) → this decides next direction.
🔶 4️⃣ Stochastic Momentum
Your chart’s Stochastic:
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Already near overbought (70+ zone).
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A bearish crossover is forming.
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Indicates weakening bullish momentum near resistance.
This supports a SELL setup unless price breaks strongly above 123,700.
🔶 5️⃣ Trading Plan (Intraday + Swing)
📌 Intraday Setup
SELL Below 123,300
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Target 1: 122,800
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Target 2: 122,200
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Target 3: 121,500
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Stop-Loss: 123,900
Reason: Price rejection at 61.8% Fib + overbought Stoch.
📌 BUY Setup (Only if breakout happens)
BUY Above 123,900 (Strong breakout needed)
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Target 1: 125,000
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Target 2: 126,200
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Target 3: 126,800
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Stop-Loss: 123,300
Reason: Breakout from Fib 61.8% and pivot resistance.
📌 Swing Trade (2–10 Days)
BUY Near 120,750 (Major Support)
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Target: 122,800 / 124,500 / 126,800
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SL: 119,900
This zone is a high-probability reversal area.
🔶 6️⃣ Fundamental View (Gold Global Outlook)
Bullish Factors
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Possible US Fed rate cuts → weak USD → strong gold
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Global geopolitical tensions (Middle East → safe haven buying)
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Strong central bank gold purchases
Bearish Factors
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Strong US economic data
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Rising Treasury yields
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Higher dollar index
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Profit booking at higher levels
Overall Fundamental Bias
➡ Neutral to mildly bullish for medium-term
➡ Short-term volatility remains high due to USD strength and bond yield swings.
🔶 Final Conclusion
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Price is at a critical reversal zone (61.8%).
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Intraday bias is mildly bearish unless 123,900 breaks.
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Medium-term remains sideways.
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Long-term remains bullish.
Buy–Sell Signal Table.
I will generate the clean banner-style technical report image in my next message (because after generating an image I must not send any text).
📌 BUY–SELL SIGNAL TABLE (MCX GOLD FUTURES – 1H CHART)
| Signal Type | Price Level | Action | Target Levels | Stop-Loss | Reason |
|---|---|---|---|---|---|
| SELL | Below 123,300 | Entry | 122,800 → 122,200 → 121,500 | 123,900 | Rejection at 61.8% Fib, Stochastic overbought |
| BUY (Breakout) | Above 123,900 | Entry | 125,000 → 126,200 → 126,800 | 123,300 | Breakout above pivot + 61.8% Fib |
| BUY (Swing) | 120,750 Support | Entry | 122,800 → 124,500 → 126,800 | 119,900 | 0.786 Fibonacci strong support |
| SELL (Swing) | Below 120,700 | Entry | 119,500 → 118,800 → 117,500 | 121,400 | Breakdown of major support |
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