Gold prices continued its weakness from $1802.90 levels and have breached its important support level of $1700 mark also. Initially $1680 levels would act as a key support on downside, any sustainable breach below the same will intact the bearish trend.
Weekly RSI as well as short-terms EMA’S are showing the bearish momentum for this week.
Recommendation: Sell Gold at 28565 for a target of 28000 with a stop loss of 28725
MCX Natural Gas rose to as high as 193 last week and reached to its key horizontal line resistance of 194 levels. Any successful close above the same will push the prices towards the next resistance of 207. On weekly charts; RSI (14week) given an upside crossover and weekly MACD also ready for upside breakout, huge volume participation also supporting the bullish momentum in coming sessions.
Recommendation: Buy Above 194 for a target of 207 with a stop loss of 189
MCX Copper prices have given respect to its falling trend-line resistances and ended in a negative zone. As of now 373 levels acting as a key supporting level on downside, any sustainable breach below the same will drag copper prices towards the next support of 360 levels.
Gold prices continued its weakness from $1802.90 levels and have breached its important support level of $1700 mark also. Initially $1680 levels would act as a key support on downside, any sustainable breach below the same will intact the bearish trend.
Weekly RSI as well as short-terms EMA’S are showing the bearish momentum for this week.
Recommendation: Sell Gold at 28565 for a target of 28000 with a stop loss of 28725
MCX Natural Gas rose to as high as 193 last week and reached to its key horizontal line resistance of 194 levels. Any successful close above the same will push the prices towards the next resistance of 207. On weekly charts; RSI (14week) given an upside crossover and weekly MACD also ready for upside breakout, huge volume participation also supporting the bullish momentum in coming sessions.
Recommendation: Buy Above 194 for a target of 207 with a stop loss of 189
MCX Copper prices have given respect to its falling trend-line resistances and ended in a negative zone. As of now 373 levels acting as a key supporting level on downside, any sustainable breach below the same will drag copper prices towards the next support of 360 levels.
Weekly RSI (14) is placed in neutral zone and showing a neutral tendency.
Recommendation: Sell Below 373 for a target of 360 with a stop loss of 379
To read the entire report, including charts, and technical analysis on MCX Zinc Nov, NCDEX Guar GUM, and NCDEX Soya oil, please click on the link below -
Weekly RSI as well as short-terms EMA’S are showing the bearish momentum for this week.
Recommendation: Sell Gold at 28565 for a target of 28000 with a stop loss of 28725
MCX Natural Gas rose to as high as 193 last week and reached to its key horizontal line resistance of 194 levels. Any successful close above the same will push the prices towards the next resistance of 207. On weekly charts; RSI (14week) given an upside crossover and weekly MACD also ready for upside breakout, huge volume participation also supporting the bullish momentum in coming sessions.
Recommendation: Buy Above 194 for a target of 207 with a stop loss of 189
MCX Copper prices have given respect to its falling trend-line resistances and ended in a negative zone. As of now 373 levels acting as a key supporting level on downside, any sustainable breach below the same will drag copper prices towards the next support of 360 levels.
Weekly RSI (14) is placed in neutral zone and showing a neutral tendency.
Recommendation: Sell Below 373 for a target of 360 with a stop loss of 379
To read the entire report, including charts, and technical analysis on MCX Zinc Nov, NCDEX Guar GUM, and NCDEX Soya oil, please click on the link below -
Recommendation: Sell Below 373 for a target of 360 with a stop loss of 379
No comments:
Post a Comment