Gold’s Bullish Glow Dims Amid Technical Signals Of A Pullback: SEBI RA Vikash Bagaria
Synopsis
The analyst said that a decisive close below ₹93,200 per 10 grams could trigger a sharper decline toward ₹91,600 and ₹88,500.
Gold may be poised for a correction after recent gains as technical signals suggest weakening bullish momentum, according to SEBI-registered analyst Vikash Bagaria.
On Monday, the 24-carat gold rate in India rose by ₹330 to ₹97,640 per 10 grams.
Bagaria highlighted a monthly Doji candle at the top signaling indecision, along with price struggles near key Fibonacci resistance zones on the weekly chart.
The analyst said that gold is trapped below a triangle resistance pattern with fading momentum on the daily timeframe.
He pointed to bearish indicators, including a turning MACD and an RSI cooling below 55, suggesting bulls are losing control while bears prepare to take over.
According to Vikash Bagaria, if gold’s price in Indian Rupees per 10 grams closes decisively below the key support level of ₹93,200, it could lead to a sharp correction, with important demand zones likely to emerge near ₹91,600 and ₹88,500.
Gold has gained 26.4% so far in 2025.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
)