GOLD Support level

• Gold is getting support from 1540 - 1560 level.
• 50 Week SMA has been held for now.
• So the next big move in gold will be possible once the above levels are taken out on closing basis. If they continue to give support an up move is possible from here.
• MCX Gold charts shown below this post

• Hour staying above 50 Hour sma can given an up move for gold.
• Daily chart has a hammer pattern which may act as important support for gold in the short term.
• Resistance will be at 50 Day SMA(28056) for now.