COMEX Gold is in a consolidation phase. Last week COMEX Gold was sustaining at lower levels and closed below its 6 week low. In the coming week 1460 $ will act as a major support in COMEX Gold.
- For the next week traders can use buy on lower level strategy.
- Major support in MCX Gold is 21500 and 21100.
- Major resistance in MCX Gold is 22200 and 22500.
COMEX Silver is technically weak on charts. Last week COMEX Silver was sustaining at lower levels and closed near to its week low. For the upcoming week 3230$ and 3020$ are the crucial supports and 3800$ and 4000$ are crucial resistance in COMEX Silver.
- For the next week traders can use sell on higher level strategy.
- In MCX Silver 54000 and 57000 will act as major resistance and 49000 and 47000 will act as major supports.
NYMEX Crude is in upward phase. Last week Crude oil was sustaining at higher level for most part of the week. For the coming week 88$ and 84.85$ will act as major supports and 98$ and 104.50$ a barrel will be a major resistance in NYMEX Crude.
- In MCX Crude Oil major resistance is found at 4400 and 4650 and major supports will be 4050 and 3950.
- In MCX if Crude sustains above 4140 then above 4300 it can touch the level of 4350. Trade by keeping the proper stop loss.
Copper is in a consolidation phase and traders should use the strategy of buy on lower levels. Last week COMEX Copper was sustaining at higher level and closed near to its week high. If next week COMEX Copper does not sustains above the level of 430 then below the level of 425 Copper can test the level of 420.
- In MCX Copper sustains below 425 then below 421 it can test the level of 416 if it does not break the level of 432 on the upside.
- For MCX Copper major resistance would be 430 and 440 and supports would be found at 410 and 400.
Natural Gas is in a consolidation phase and traders should use the strategy of buying on lower levels. Last week Natural Gas was consolidating for most part of the week but on the last two days it came up. If next week Natural Gas sustains above the level of 4.200 $ then above the level of 4.400$ Natural Gas can test the level of 4.490 $ and below 4.150 $ Natural Gas can slightly go down and test the level of 4.050 $.
- MCX Natural Gas major resistance would be 201 and 207, supports would be found at 188 and 182.
- In MCX, if Natural Gas sustains above 194 in the coming week then it can test the level of 200, if it does not break the level of 188 on the downside.
