MCX Gold Double Bottom – Potential Reversal GOLD FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) MCX:GOLD1! freestocktips In the last two weeks, MCX gold has lost -2003 points. We may see a continued downtrend up to the support line (Range: 49600 - 49200). Intraday traders can play between freefall by taking it as a target. As mentioned in the chart, the double bottom pattern will complete when the price fails to break past the two bottoms and heads back to the neckline. Short-term targets: 50900 - 51860 Long-term targets: 53560 - 53400 But if gold fails to complete the double bottom pattern by breaking the support line, we may see continue downward movements. And the gold price will come at/below 48760 - 48000 levels. If it happens, I will update you ASAP . Follow my account for immediate update notifications.