MCX GOLD Technical Trend
MCX GOLD last week showed downward movements broke strong support of 30775 and closed below this. Now, 30500 is act as next support for it below this it may find support around 30000. For higher level 30800 is act as strong resistance for it closing above this may take it towards next resistance level of 31200.
Better strategy in MCX GOLD is to sell below 30500 for the targets of 30200-30000 with stop loss of 30950.
MCX SILVER Technical Trend
MCX SILVER last week showed choppy 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 59150 is seen as resistance zone for it, above this bulls become active and may break level of 60000.
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 CRUDEOIL Technical Trend
Crude oil last week showed sideways movements broke trend line acting as support on daily charts and closed below this. Now, 5250 is act as strong resistance for it, if it is not able to break this resistance then it may show some correction towards level of 5110 below this next support is seen around 5040. On higher level it may face strong resistance of trend line.
Better strategy in MCX CRUDEOIL is to buy on dips for the target of 5300 with stop loss of 5095.
MCX COPPER Technical Trend
MCX Copper last week showed upward movements broke resistance of 442. Now, 50% retracement is seen as immediate resistance for it closing above this may take it towards 61.8% retracement i.e. around 448. On lower level 440 is act as strong support zone for it below this again it will be in weak zone and may find support around 434.
Better strategy in the MCX COPPER will be buy on dips, with the stop loss of 434 for the targets of 450-455.