MCX GOLD Technical Trend
MCX GOLD last week showed upward movements found resistance around trend line. On daily charts it forms a pattern falling wedge, an upward break out is expected above 31000 and next resistance is seen around 31250. On other hand if it will break support of 30700 then next support is seen around 30450.
STRATEGY
Better strategy in MCX GOLD is to buy above 31000 for the targets of 31500-31800 with stop loss of 30400.
MCX SILVER Technical Trend
MCX SILVER last week showed sideways movements found strong support of trend line now immediate support is seen around 57200 below this breakout of trend line is expected and may find support around 56300. For higher level 58800 is seen as resistance zone for it, above this bulls become active and may break level of 60000.
STRATEGY
Better strategy in MCX SILVER at this point of time is to sell below 57400 for the target of 55400, with stop loss of 59200.
MCX CRUDE OIL Technical Trend
Crude oil last week showed sideways movements broke 23.6% retracement but closed above this. Now, 5200 is seen as resistance for it, if it gives closing above this then an upward rally is expected towards next resistance level of 5280. On lower side if it break 5100 then next support is seen around 5000.
STRATEGY
Better strategy in MCX CRUDE OIL is to buy above 5200 for the target of 5300 with stop loss of 5090.
MCX COPPER Technical Trend
MCX Copper last week showed sideways movements broke resistance of 23.6% retracement and closed above this. Now, if it able to maintain above this then next resistance is seen around 451. On lower side 438 is act as crucial support for it below this it is in weak zone and may find next support around 433.
STRATEGY
Better strategy in MCX COPPER will be buy on dips, with stop loss of 438 for the targets of 455-460.
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