Premarket mcx commodities technical report and tips
Free mcx tips for bullion
mcx gold feb expiry future closed at 39852 with loss.on intraday chart gold future still in downtrend and after hitting lows near 30400 showing technical bounce back.on chart 30750-3800 is support zone and if sustain above it then expect 31050+ level.so trader must hold long or take long positions with stoploss below 30750 and expect 31050.upcoming days weak rupee may support domestic gold and silver prices.above 31200 we will see sharp momentum in price and rally.
mcx silver march future closed at 57737 with loss of 0.74%.here trend and momentum both downtrend.but indicators now showing some recovery signs from bottom.here support is below last low of 57250 and expect bounce back upto 58400 and above.below 57,000 downside will be big and sharp.
Free mcx tips for base metals
mcx aluminium dec expiry future last closing was 112.3 with loss of almost 1%.after making highs near 114.3 aluminium prices slides sharply and closed near low.might be that was freak and caught up trade.here trend and momentum is bearish and expect 111 and then 109.
mcx copper feb expiry future closed at 436.15 with loss.after bounce back momentum losing to bears.here trend and continues on downside.below 441 traders must stay short and expect 432 and then 429 in next session.below 432 will be fresh downside breakout and target range shift to 429-422.
mcx lead dec future closed at 126.5 with gains.here after touching lows near 125.5 we seen sharp short covering.here hope of new high still intact and above 125 as given earlier also long side trade preferred.on upside 128.5-129-132 are multiple target zones.
mcx nickel dec expiry future closed at 951 with loss.once gain after gap down opening nickel broke support of 955 and hit low of 944.here trend and momentum both down on intraday chart and below 960 we may expect 940-920 as target zones.
mcx zinc dec expiry future closed at 112.4 with loss.after gap down opening zinc price shown resilience and hit high near 113.35 but like aluminium price shown sharp cut here also we seen sharp sell off in minutes.trend and momentum is now verge of downside breakout.last bottom of 111.2 is last support on intraday chart.
Free mcx tips for energy
mcx crude oil jan future closed at 4909 flat.here we seen low near 4878 but crude oil prices still resilient but momentum slowly on bear side.below 4870 we will see sharp downside rally in crude oil price.on intraday chart 4970 is top now and next major move above this top only till side ways to downside rally is expected.
mcx natural gas dec expiry future closed with loss after gap down opening,last closing value was 184.8.on chart trend is down and momentum is bearish with oversold signs.here 188-190 is fresh shorting zone and correction may take gas prices to 178-170-165 level in short to medium time.