02-01-2026

Script: - MCX Gold 

Time Frame: - 4 hours

Pattern: - Descending Triangle pattern breakout.

 

 

Gold has broken out of a symmetrical triangle after accumulation, signalling trend reversal with short covering, and upside momentum is likely as long as price holds above the breakout zone.

 

Recommendation

Buy around: - 136500

Target: - 139000

Stoploss: - 134200

 

Conclusion:

MCX Gold has confirmed a bullish breakout from a symmetrical triangle after a phase of consolidation and accumulation. Selling pressure has exhausted, short covering has emerged, and momentum has shifted in favour of buyers.

02-01-2026

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