Mcx gold hit 28300 remain sell watch tgts 27600 and 27400
Mcx gold future as expected closed with huge loss at 28170. Closed below 28300 which was my downside target and now heading for super bearish target zones of 27400 and 26500. For intraday below 28300 remain sell on rise and bullion traders can keep targets at 27800 and 27400.
Mcx silver looks weak tgts 40400 and 39500
Mcx silver in last trading session closed at 40903. Mcx silver was in strong recovery phase but faced strong supply around 42k levels. Remain sell on rise below 42000 and expect 40400 and 39500 as downside targets once again. Below 40400, silver might heads for my swing target of 38300.
Mcx aluminium remain sell on rise target 113
Mcx aluminium last closed at 118.15. Mcx aluminium facing profit booking waves at higher levels and which eventually turn into strong correction. Mcx aluminium on upside 119 and 122 are resistances as well as fresh selling zones with stop loss. On downside 115 and 113 are support zones as well as short term targets for this base metal.
Mcx copper remain sell below 410
Mcx copper last closed at 399.75. Mcx copper facing strong supply on higher level and we already saw swing low around 388. On upside 410 and 418 are strong resistances as well as fresh sell zones. Traders here keep sell on rise view and expect deep downside targets of 485 to 470 in short to medium terms. In my view copper will test 460 before moving upward.
Mcx lead expect correction up to 155 to 149
Mcx lead future last closed at 159.7. Lead future significantly came off from highs and now heading towards support to test them. On downside 155 and 149 are support zones as well as target level for traders.
Mcx nickel hit 750 tgts 737-718
Mcx nickel future last closed at 767. Mcx nickel future price trend and momentum is now on correction side and us already saw dip up to 750 rupee. My downside targets are 737 and 718. On upside 765 and 780 will remain resistances as well as fresh selling zones.
Mcx zinc heading for 176 and 169 levels
Mcx zinc last closed at 184.3 with loss. Zinc prices are volatile and remain that way for short time. On upside 190 and 194 are strong resistances as well as fresh short entry zones. On downside 176 and 169 are support zones as well as target areas for this volatile base metal.
Mcx crude oil hit my targets 3270 and 3400
Mcx crude oil last closed at 3385 with whooping 8% rally. Mcx crude oil was buy on dips and I already suggesting that way for long time. On upside mcx crude hit my targets of 3270 and then almost 3400 in single session. Momentum is strong bullish and expect this rally to continue towards my next target of 3600!!
Mcx natural gas overbought remain sell
Mcx natural gas future last closed at 229.6. Mcx ng future is trading in overbought zone and now looking weak. We already saw low near 225. Below 231, mcx natural gas future will remain sell on rise and expect deep downside up to 220 and 210 in short to medium terms.