mcx gold weekly forecast and trading strategy for 6 to 10 july
Mcx gold future this week closed with loss. This was second weekly loss for this precious metal on fresh short selling. This week gold future high was at 26868 while low was at 26130. Total 750 rupee weekly range and closed with loss.
Mcx gold weekly chart price trend and momentum both are down. Indicators are approached oversold territory. On daily chart indicators suggest 26100 is bottom and recovery might happen in next week.
For risky traders, gold trading strategy will be buy on dips with strict stop loss below 26100 and expect recovery up to 26700.
mcx silver weekly forecast and trading strategy for 6 to 10 july
Mcx silver future this week closed with loss. This was second weekly loss for bullion metal. Silver future this week hit high around 36429 while low was at 35147. Total 1300 rupee weekly range and closed with loss. On weekly chart silver price trend and momentum is bearish but indicators are near oversold territory so might form bottom in next week.
For next week, silver future has support at 34200 and 32800. On upside 36700 will be target zone if recovery happens.