Mcx gold hit 28150-28850 targets now correcting
Mcx gold this week closed with loss at 28284. Mcx gold future achieved my both revised January bullish targets of 28150 and 28850. Now correcting and heading towards support zones of 28150 and 27500. From long term view, mcx gold below 28350 remain weak and sell for target 24200.
Mcx silver hit 41300 target next is 43500
Mcx aluminium hit all tgt now time for deep correction
Mcx aluminium this week closed with loss at 124.05. Mcx aluminium hit bullish and supper bullish positional target of month of January. They were 118-121-123 and 126. Now started correction and will head towards 123-121 and 118 levels. From long term view, aluminium its 2017 first target of 126 rupee and now correcting towards support of 112 rupee.
Mcx copper hit 402 tgt next tgt is at 428
Mcx copper this week closed with gain at 404. Mcx copper achieved positional target of 402 and now trading above it. We already saw high up to 410 rupee. Above 402 mcx copper remain buy for next positional bullish target of 428 rupees. If fails expect downside up to 383 on sharp selloff. From long term view, mcx copper is bullish and heading towards 433 target.
Mcx lead hit high 163+ now looks weak
Mcx lead future this week closed with loss at 155.45. We saw mcx lead rallied from 134 to my target 155 and then hit high up to 163.5 and failed to sustain on news flow. Now looking weak and below 155 expect strong selloff for targets 144 and 125 rupees.
Mcx nickel hit 642 next support tgt 599
Mcx nickel future this week closed with loss at 652. Mcx nickel on recovery rally hit 722 target but failed to cross that which resulted in sell off. On downside achieved 642 rupee target and now below it expect next support as well as target at 599 rupee. From long term view, mcx nickel below 675 remain bearish and target will be 530 rupee.
Mcx zinc hit 189 now correcting
Mcx crude oil above 3570 remain buy
Mcx crude oil this week closed with loss at 3608. Oil future is stuck in range but outlook still bullish. On downside 3570 is major support and above it crude oil will remain bullish and buy for target 3790. From long term view, crude oil is heading towards 4300 target.
Mcx natural gas above 227 might recover up to 245+
Mcx natural gas future this week closed with gain. Mcxis in downtrend and we already saw it achieved tgt 227 and given swing low of 212. Now recovering and above 227 expect recovery rally to continue for target 245+. From long term view, above 208 remain buy and accumulate for target 307.