GOLD DROPS MORE THAN 1 PERCENT ON EURO ZONE DEBT HOPES.
CRUDE OIL ADVANCES A SECOND DAY IN LONDON ON EUROPEAN SUPPORT FOR GREECE.
COPPER RISES AFTER LEADERS REASSURE ON GREECE.
DOMESTIC OIL AND OILSEED TRADE LOW.
COMEX Gold is in an upward consolidation phase. In the coming week 1750$ will act as a major support in COMEX Gold and 1920$ will act as a major resistance.
STRATEGY
For the next week MCX Gold above 284000 it can test the level of 28200/28450/28700 and Below 27300 in MCX it can test the level of 27150/27000/26850. Trade by keeping the strict stop losses.
Major support in MCX Gold is 26500 and 25200
Major resistance in MCX Gold is 28700 and 29000
MARKET OVERVIEW
COMEX Silver is in a consolidation phase. In MCX Silver 68000 and 70000 will act as major resistance and 60000 and 58000 will act as major supports.
For the next week MCX Silver sustains above 63500 above it can test the level of 65700/66300/67000 and above 67500 it can test the level of 70500.
MARKET OVERVIEW
Copper is in a consolidation phase and traders should use the strategy of sell on higher levels. In MCX Copper sustains below 409 then it can test the level of 403/397 if it does not break the level of 416 on the upside.
MARKET OVERVIEW
NYMEX Crude is in consolidation phase. In MCX Crude Oil major resistance is found at 4300 and 4420 and major supports will be 3750 and 3550.
CRUDE OIL ADVANCES A SECOND DAY IN LONDON ON EUROPEAN SUPPORT FOR GREECE.
COPPER RISES AFTER LEADERS REASSURE ON GREECE.
DOMESTIC OIL AND OILSEED TRADE LOW.
COMEX Gold is in an upward consolidation phase. In the coming week 1750$ will act as a major support in COMEX Gold and 1920$ will act as a major resistance.
STRATEGY
For the next week MCX Gold above 284000 it can test the level of 28200/28450/28700 and Below 27300 in MCX it can test the level of 27150/27000/26850. Trade by keeping the strict stop losses.
Major support in MCX Gold is 26500 and 25200
Major resistance in MCX Gold is 28700 and 29000
MARKET OVERVIEW
COMEX Silver is in a consolidation phase. In MCX Silver 68000 and 70000 will act as major resistance and 60000 and 58000 will act as major supports.
For the next week MCX Silver sustains above 63500 above it can test the level of 65700/66300/67000 and above 67500 it can test the level of 70500.
MARKET OVERVIEW
Copper is in a consolidation phase and traders should use the strategy of sell on higher levels. In MCX Copper sustains below 409 then it can test the level of 403/397 if it does not break the level of 416 on the upside.
MARKET OVERVIEW
NYMEX Crude is in consolidation phase. In MCX Crude Oil major resistance is found at 4300 and 4420 and major supports will be 3750 and 3550.
STRATEGY
For the next week MCX Crude sustains above 4100 then above 4250 it can test the level of 4320/4360/4390 in this week. Trade by keeping the proper stop loss.
For MCX Copper major resistance would be 422 and 430 and supports would be found at 400 and 385.
MARKET OVERVIEW
For MCX Natural Gas major resistance would be 194 and 205, supports would be found at 165 and 154.
For the next week MCX Crude sustains above 4100 then above 4250 it can test the level of 4320/4360/4390 in this week. Trade by keeping the proper stop loss.
For MCX Copper major resistance would be 422 and 430 and supports would be found at 400 and 385.
MARKET OVERVIEW
For MCX Natural Gas major resistance would be 194 and 205, supports would be found at 165 and 154.
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