MCX GOLD
MCX GOLD last week showed downward trend it moved in a downward channel pattern and found strong support of lower band of channel, now if it able to break support of 30350 than we expect bearish trend in it towards the level of 30000. On other hand if it takes reversal from lower band than resistance is seen around 30850.
Strategy
Better strategy in MCX GOLD is to sell below 30350 for the target of 29800-29400 with stop loss of 30900.
MCX SILVER
MCX SILVER last week showed downward trend on daily charts it moves in downward channel pattern and found strong support of lower band of channel. Now, if it takes reversal from lower band than some correction is expected in it towards level of 58850 and if downtrend continuous than support is seen around 56000.
Strategy
Better strategy in MCX SILVER at this point of time is to sell below 56800 for the target of 55700-54800, with stop loss of 58400.
MCX CRUDEOIL
Crude oil last week showed downward movement and found strong support of 4600 which is also its crucial point since last four weeks it was not able to break it, below this it will be in weak zone and may find next support around 4500. On other hand in this week if it is not able to break it than resistance is seen around 4725.
Strategy
Better strategy in MCX CRUDEOIL is to sell below 4600, for the target of 4500 with stop loss of 4715.
MCX Copper
MCX Copper last week showed downward movement on weekly charts it moves in an upward channel pattern and found support around lower band of channel. Now if it breaks support of 414 than find next support around 409 below this breakout of channel pattern is expected. On higher level it will find resistance around 425.
Strategy
Better strategy in the MCX COPPER will be sell below 414, with the stop loss of 425 for the target of 407-400.
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