Premarket mcx commodities technical report and tips
Free mcx tips for bullion
mcx gold feb future today closed at 31371 with 1% loss.as gold seeing year end fund house selling downside rally on comex here on domestic market prices dropping on same.now on 30 min chart gold future looks in absolute downtrend.fresh selling done on bounce back near 31440 only.on downside expect again 150-250 points fall in next 1-2 session.reversal only above 31660.
mcx silver march expiry future today closed at 62492 with loss over 2%.on chart breakdown done at 65400 and now moving towards 61000 and 59000 levels again.on slight long term horizon we see target at 59,000!!for tomorrow 62900 to 63400 is fresh short accumulation zone.expect 62000 to 61400 in intraday!!
Free mcx tips for base metals
mcx aluminium dec future today closed at 113.95 with loss.on 30 min chart aluminium look like topped out at 115 and now on downside 113.5 is last major support if slips below that or close below that then lower tops and bottom cycle will trigger here.we expect 112-110 level again!!
mcx copper feb expiry future today closed at 445.55 with gains.on chart 447.5 is top now below that now correction is going on.on downside 444 and 442 are intraday supports if breaks below that then 435 and 431 will be short term targets.tomorrow expecting sell off here.
mcx lead dec expiry future today closed at 121.95 with loss of 0.65%.on chart lead future in range bound move but definitely braked support so here downside level.on upside 122 to 122.4 remain strong supply zone.on downside expect 121 and then sharp downfall upto 119.
mcx nickel dec future closed at 958.2 with loss.on chart nickel future today taken support at 952 and inching upside.here we may see outperformance and expecting 985 to 995 levels.but if slips below 950 then possibly change in trend and lower cycle will start.on downside next major supports are 938 and 929.
mcx zinc dec future closed at 110.45 with loss of 0.54%.on chart today zinc price hit lows near 110 after breaking major support of 110.9.on intraday chart trend is absolute down and new selling now done at 110.5-111 zone on downside expect 109.5 and first and last major support below that next support will be 106!!!
Free mcx tips for energy
mcx crude oil dec future today closed at 4855 with loss.on chart no trend only volatility is seen on weak rupee,volatile crude and complex dollar index?on chart below 4800 will be absolute sell signal and we are bearish here and expecting 4700-4600 levels again!!4850-4920 is sellers zone now!!
mcx natural gas dec future today closed at 195.9 with loss near 1%.today we seen low near 194.here 191 is first support and if breaks take call for 180-181 as we already given sell call!!now reversal above 199 only but that is less likely as indicators again gone in sell mood!!