Gold MCX Nov. Future - Intraday Technical Analysis - 29 Sep. Gold FuturesMCX:GOLD2!ChartPathikGOLD2! Gold Futures are consolidating at 114,908, hovering just above the key zero line and prior resistance, after a robust recovery that has shifted the trend for the short term. Bullish Scenario (Long Logic) Long Entry (114,584): Initiate longs above 114,584 as the hourly structure confirms a strong reversal from the recent swing low, and price is respecting the ascending trendline. Additional positions can be scaled in near 114,432 if retracement holds above this support, aligning with higher lows in price structure and rising volume. Upside Targets: 115,685 (Target 1): Represents the first major resistance and expected profit-booking zone, corresponding to recent swing highs. 116,175 (Target 2): Upper mapped resistance, extension target for momentum continuation if bullish sentiment escalates. Stop Loss: Maintain stops below 114,280, or tighter at 114,156 (Long Exit), protecting against immediate breakdowns and false breakouts. Bearish Scenario (Short Logic) Short Entry (114,280): Shorts activate below 114,280, as this would break both horizontal and trendline supports, shifting bias back in favor of bears. Downside Targets: 114,097 (Target 1): Bounce area and possible reversal/support from previous sessions. 113,607 (Target 2): Deeper target, highlights aggressive selling and fall to lower end of range. Stop Loss: Shorts should be covered above 114,891 if breakdown fails and price recovers above zero line and consolidation resistance. Neutral/Trend Logic Zero Line (114,891): Acting as a pivotal point; hourly close above it favors continuation of uptrend, while failure to hold may result in quick reversion. Rising trendline support and strengthening volume confirm buyers are in control, unless price slips below 114,432. This structure supports disciplined setups for both breakout and reversal trades, with each scenario anchored by logical risk management and intraday targets. Follow Chart Pathik for more Bullion related updates.