Bullion:
MCX GOLD this week showed negative movements broke strong support of trend line 30365 and closed below this. Now support is seen around 29750 if it break this then it will be in weak zone and may find next support level of 30000. For higher level 30400 of strength is seen only if it give closing above this.Better strategy in MCX GOLD is to sell on high with SL 30700., for the target of 30000-29750.
MCX SILVER this week showed negative movements gave breakout of upward channel, found support around 58125 which is seen as immediate support for it. Now, if it gives closing below 58000 then next support is seen around 57225. If it takes reversal from current level then 59225 is seen as immediate resistance for it.Better strategy in MCX SILVER is to sell below 58125 with stop loss of 59200,for the target of 57000.
Energy:
MCX Crude oil this week showed positive movements around higher level. Now, if it break resistance level of 5212 then next resistance is seen around 5285 above this breakout of trend line is expected and may find resistance around 5350. On lower side 5125 is act as strong support for it which is 61.8% retracement.Better strategy in MCX CRUDEOIL is to buy on dips for the target of 5300 with stop loss of 5095.
Base Metal:
MCX Copper this week showed sideways movements closed below 50% retracement it is still looks in weak zone, 61.8% retracement is seen as strong support for it i.e. 432, if it give closing below this then it may find next support around 427.50. On higher level 442 is still acting as strong resistance for it only above this it may show strength.Better strategy in the MCX COPPER will be sell below 432, with the stop loss of 442 for the targets of 425.
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