Commodity forecast 7th December 2016

Mcx gold at lows target 27250

Mcx gold at lows target 27250

Mcx gold future closed at 27820 with loss. As expected we seeing strong supply in market at every rise. Gold prices trending lower and showing less upside bounce back rallies which means expect sudden breakdown in short to medium term. My shorts target is on sell side at 27250. For intraday, mcx gold resistances are 28200 and 28350 and remain as fresh sell zones. On downside 28700 and 28500 are support as well as target zones. Mcx silver remain sell below 42k

Mcx silver remain sell below 42k

Mcx silver future last closed at 41k with loss. Mcx silver after sharp fall bounced back up to 41500 but now bounce back is over and primary trend resumed. For short term below 42k, my short sell target is at 39100. For intraday, mcx silver resistance zones as well as fresh short entry zones are 41500 and 41900. On downside 40800 and 40500 are support zones as well as target levels. Mcx aluminium hit low near 115 tgt 113.3

Mcx aluminium hit low near 115 tgt 113.3

Mcx aluminium future last closed at 116 with loss. As expected aluminium prices seeing supply from market below resistance of 118. On downside 113.3 was my first short swing target and aluminium hit low near 115. Remain sell on rise for target 113.3. For intraday, mcx aluminium resistances as well as short entry zones are 117.4 and 118. While on downside 115 and 114 are support zones as well as targets. Mcx copper remain buy on dips

Mcx copper remain buy on dips

Mcx copper future last closed at 400. Mcx copper future price trend and momentum still bullish. And my target is at 435 if copper prices sustain above 379 rupee zone. Technically copper still stronger and heading higher. We already saw high near 410. For intraday, mcx copper support zones are 396 and 390 and these are buying zones. On upside 404 and 410 are intraday resistances as well as target zones. Mcx lead remain buy tgts 165

Mcx lead remain buy tgts 165

Mcx lead future last closed at 159.35. Mcx lead looking strong and given reversal move above 157 rupee support which is fresh buy signal. My mc lead positional target is at 178 if sustain above 157 rupee level. Mcx lead intraday support zones are 157 and 156 and these are fresh buying zones. On upside 161 and 163.5 are resistances as well as target zones. Mcx nickel slowly heading for 825 target

Mcx nickel slowly heading for 825 target

Mcx nickel future last closed at 785. Mcx nickel is in uptrend and heading towards my given positional target of 825 rupee. For intraday, mcx nickel remain buy on dips at support zones. Nickel intraday support zones are 775 and 760 rupee. On upside 800 and 821 are resistances as well a target zones. Mcx zinc future remain buy tgts 195-200

Mcx zinc future remain buy tgts 195-200

Mcx zinc future last closed at 189.85 with gain. Mcx zinc future also taken support at 184 and moving upwards towards my December positional target of 206 rupee. Mcx zinc above 184 remain buy on dips. Mcx zinc intraday support zones are 186 and 183.8. On upside 191.4 and 193.5 are intraday resistance zones. Mcx crude oil remain buy on dips tgts 3475-3680

Mcx crude oil remain buy on dips tgts 3475-3680

Mcx crude oil future last closed at 3435. Mcx crude oil price trend and momentum both are strong bullish and we already saw high of 3570. Mcx crude oil future above 3175 remain buy and accumulate. My upside targets are 3475 which already achieved and next was 3680 where we saw high of 3580. For mcx crude oil intraday support zones are 3400 and 3355. On upside 3475 and 3530 are resistances as well as target zones. Mcx natural gas hit long term target 252

Mcx natural gas hit long term target 252+

Mcx natural gas future last closed at 247. Mcx natural gas hit my positional target of 250 rupee and also hit my long term target of 252 rupee. Mcx natural gas is in strong buying momentum and every dip is buying opportunity. Expect sharp short covering rallies at highs. Mcx natural gas intraday support zones are 238 and 229. On upside 253 and 260 rupee target intraday resistances.

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The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.

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