mcx natural gas weekly forecast for 30 may to 3 june 2016

mcx natural gas weekly forecast for 30 may to 3 june 2016

Mcx natural gas future this week closed with strong gains. Natural gas prices after breakout above 132 trading in range of 148 on upside and 133 on downside.

 

On weekly chart, mcx natural gas future price trend and momentum both are bullish and natural gas continuously testing major support which is also bullish sign means upcoming move will be strong and firm.

 

Above 133 mcx natural gas future remain buy for tgts 148 and 157. While monthly chart suggesting this recovery rally has its target at 165 rupee level.

mcx crude oil weekly forecast for 30 may to 3 june 2016

mcx crude oil weekly forecast for 30 may to 3 june 2016

Mcx crude oil future this week closed with gain. This was third positive week for oil prices.

 

Mcx crude oil weekly chart price trend and momentum both are bullish. Above 3170 crude will remain bullish and buy on dips. On upside 3400 and 3485 are strong resistance zones as well as targets for next week.

 

On downside 3210 and 3170 are support levels as well as fresh long entry zones.

 

Mcx crude oil monthly chart suggesting this move target around 3550 to 3625.

mcx zinc weekly forecast for 30 may to 3 june 2016

mcx zinc weekly forecast for 30 may to 3 june 2016

Mcx zinc future this week closed with strong gains. On weekly chart zinc prices are in a range from last six weeks. On upside 128 is resistance while on downside 122 is support level.

 

For next week, mcx zinc future below 131.3 remain bearish and sell on rise. On downside 126-124 and 122 are support zones as well as targets.

 

On monthly chart, 123 and 112 are support zones and targets if deep correction comes.

mcx nickel weekly forecast for 30 may to 3 june 2016

mcx nickel weekly forecast for 30 may to 3 june 2016

Mcx nickel future this week closed with loss. This was forth losing week for nickel prices.

 

For next week, mcx nickel below 565 remain bearish and sell.

On downside 550 and 540 are support zones as well as target levels for next week. On upside 565 and 590 are strong resistances.

 

Mcx nickel monthly chart showing support zones at 535 and 500 rupees.

mcx lead weekly forecast for 30 may to 3 june 2016

mcx lead weekly forecast for 30 may to 3 june 2016

Mcx lead future this week closed with gain. After last week’s fall prices are seeing some short covering as well as value buying on lower levels.

 

Mcx lead future next week outlook below 117 remain bearish and sell on rise. On downside 112.5, 110.5 and 107.9 are support zones as well as target levels. On upside 114.5 and 117 are strong resistances.

 

Mcx lead monthly chart showing 112-110 is major support and if lead slips below it then expect lower levels up to 98 rupee in long terms.

mcx copper weekly forecast for 30 may to 3 june 2016

mcx copper weekly forecast for 30 may to 3 june 2016

Mcx copper future this week closed with gain. After last 3 weeks continue fall we saw some short covering in this week.

 

On weekly chart, mcx copper above 306 will remain bullish but on upside expect multiple resistance zones. For next week, mcx copper major resistance levels are 317 and 325.

 

Below 325 medium term trend remain weak and tgts are 306-301 and 295.

 

Mcx copper monthly chart pattern are very bearish and suggesting 266 as tgt if fail to cross 341 top.

mcx aluminium weekly forecast for 30 may to 3 june 2016

mcx aluminium weekly forecast for 30 may to 3 june 2016

Mcx aluminium future this week closed with loss. After fall from 111 levels aluminium prices are trading in range of 102 to 106. But now is at decisive points.

From here downside move will be breakdown and reversal will be best buying opportunity.

 

For next week, mcx aluminium outlook remain bearish and below 106 remain sell on rise. On downside 102.6 and 99.5 are support zones as well as tgt levels for next week. On upside 106 and 108 are resistance zones.

 

Mcx aluminium monthly chart suggesting downside levels up to 98.5 for this corrective move. 111 level is strong top resistance for aluminium prices on monthly chart.

mcx silver weekly forecast for 30 may to 3 june 2016

mcx silver weekly forecast for 30 may to 3 june 2016

Mcx silver future this week closed with loss. This was forth losing week for silver prices and in these 4 weeks silver lost almost 4000 rupee gains.

 

For next week, mcx silver outlook remain bearish and selling might continue. On weekly chart, mcx silver shows support zones around 38200 and 37700. While on upside 39600 and 40900 are strong resistances.

 

Silver traders below 39600 keep sell on rise view for tgts 38200 and 37700.

 

On monthly chart, 36500 and 32400 are major supports and silver might test them if downtrend continues.

mcx gold weekly forecast for 30 may to 3 june 2016

mcx gold weekly forecast for 30 may to 3 june 2016

Mcx gold future this week closed with another heavy loss. This was third weekly loss for gold future. In last 4 weeks period gold almost lost 2000 rupees from price.

 

For next week, gold future outlook remain bearish and sell on rise. On downside weekly chart showing support zones at 28500 and 28100. But monthly chart suggesting lower levels up to 27800 to 27500.

 

On upside mcx gold future resistance zones are 29300 and 29800 rupees.

 

Mcx gold future failed to sustain above 29800 so expect it to test 27300 to 25800 levels in longer terms.

jpy inr weekly predictions for 30 may to 3 june 2016

jpy inr weekly predictions for 30 may to 3 june 2016

Jpy inr future this week closed with gain. After last 2 weeks negative closing yen closed with gain against rupee.

 

For next week, jpy inr future below 62.2 remain bearish and sell on rise. On downside yen rupee weekly chart showing support zones at 61 and 60.2 which are tgts for next week.

 

On upside 61.7 and 62.2 are strong resistances as well as fresh short entry zones for yen.

 

Jpy inr monthly chart suggesting topped pattern for yen. So expect weaker yen and downside for jpyinr future. On downside 59.6 and 56 are medium to long term tgts for yen rupee future if holds 63.1 top.