Gold prices are showing signs of recovery on June 19, 2026, after a sharp corrective decline, according to a report by Business Today. MCX Gold August futures have formed a short-term base around the ₹1,46,400–₹1,46,600 zone and are now attempting a recovery supported by improving momentum indicators. The report, citing analysis from Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, notes that bargain buying and short covering are emerging at lower levels, making a buy-on-dips strategy favorable for the session.
Price Action and Technical Setup
According to the Business Today report, after a steep decline, gold has started forming higher lows on the 15-minute timeframe. The recovery above the immediate support zone indicates that bearish momentum is easing and buyers are gradually regaining control. Sustaining above ₹1,46,900 is likely to keep the recovery intact, the report added.
Key Support and Resistance Levels
The report detailed the following support and resistance levels for gold futures:
| Level | Price (₹) |
|---|---|
| Immediate Support | 1,46,900 – 1,47,000 |
| Major Support | 1,46,400 |
| Immediate Resistance | 1,47,500 |
| Key Resistance/Target | 1,47,750 |
Recommended Strategy
Jateen Trivedi recommended a buy-on-dips strategy with the following parameters, as per the report:
- Entry Zone: ₹1,46,900 – ₹1,47,100
- Stop-Loss: Below ₹1,46,400
- Target: ₹1,47,750
- Bias: Bullish above ₹1,46,400
Indicators Analysis
The report highlighted several technical indicators improving:
- Moving Averages: Prices are attempting to move above the short-term EMA cluster. A sustained trade above ₹1,47,000 could trigger further upside momentum.
- Volume Profile Analysis: The highest traded volume is concentrated around ₹1,46,700–₹1,47,000, highlighting a strong demand area that is expected to act as immediate support during intraday pullbacks.
- MACD Indicator: MACD has witnessed a bullish crossover from deeply negative territory, with rising histogram bars indicating strengthening upward momentum.
- RSI Indicator: RSI has recovered towards the 43–45 zone from oversold levels, reflecting improving momentum. A move above the 50 mark could further strengthen the bullish outlook.
Outlook
For traders in the commodities market, this technical setup provides a clear risk-reward framework. The report suggests that as long as prices hold above ₹1,46,400, the short-term structure favors a rebound towards higher resistance levels. The recommended accumulation near ₹1,46,900–₹1,47,100 with a strict stop-loss below ₹1,46,400 offers an upside objective of ₹1,47,750. Business Today also included a disclaimer that the recommendations and views are those of the expert and do not represent the views of the publication.
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