Commodity market outlook for 6th December 2016

Mcx gold remain sell on rise

Mcx gold remain sell on rise

Mcx gold future last closed at 28086 with bounce back. Mcx gold price trend is down and prices are oversold. Mcx gold future outlook is bearish but as prices are oversold, expect small bounce back. For intraday, mcx gold resistances as well as bounce back targets are 28265 and 28400 while on downside expect support at 27775. Mcx silver bouncing back towards 42k

Mcx silver bouncing back towards 42k

Mcx silver future on last trading session closed at 41360 with gain. Mcx silver is in downtrend and remain sell below 42k. But now bouncing back towards resistance to test it. For intraday expect bounce back rally up to 41650 to 41900. Mcx silver intraday support zones will be 41060 and then 40800 for today. Mcx aluminium remain sell below 118

Mcx aluminium remain sell below 118

Mcx aluminium future last closed at 117.6 below 118 level. Mcx aluminium price trend is down and look like bounce back is over. For today, mcx aluminium resistances and sell zones are 119 and 119.5 while on downside 116.4 and then 115.3 are support zones as well as target levels for short positions. Swing traders below 118, can expect mcx aluminium target at 113.3. Mcx copper heading for 410-418

Mcx copper heading for 410-418

Mcx copper future last closed at 408 with gain. Mcx copper future reversal trend is strong and expect sharp covering rallies at every highs. Mcx copper hit my 404 target and now heading for target of 418. For intraday 410 and 418 are mcx copper resistances as well a target zones. On downside 401 and 399 are support zones as well as buying levels. Mcx lead trend reversal targets 160-162.5

Mcx lead trend reversal targets 160-162.5

Mcx lead future last closed at 157.6. Mcx lead future is reversing after correction and consolidation then remain buy above 157. On upside traders can expect targets of 160 and 162.5 in intraday. Mcx lead intraday support zones are 154 and 152 rupees. Above 157 levels, mcx lead will head towards my swing target of 178. Mcx nickel reversal heading for positional target 825

Mcx nickel reversal heading for positional target 825

Mcx nickel future last closed at 789 with gain. Mcx nickel future resumed uptrend after taking support at 758. Now looking strong and heading towards swing target of 825 rupee. For intraday mcx nickel remain buy on dips. Mcx nickel intraday support zones are 785 and 774. On upside mcx nickel intraday resistances as well as target zones are 800 and 821. Reversal from 758 means upside swing target of 825 rupees. Mcx zinc reversal target 206

Mcx zinc reversal target 206

Mcx zinc future last closed at 187.5 with gain. Mcx zinc future given strong reversal move above 184 support which is fresh buy signal from positional view. On upside my mcx zinc swing target is at 206 and remain buy above 184. For intraday, mcx zinc support zones are 184 and 182 while on upside expect resistances at 189.5 and 191.9. Mcx crude oil hit 3580 target given 3680

Mcx crude oil hit 3580 target given 3680

Mcx crude oil future last closed at 3533 with gain. Mcx crude given breakout above 3475 and heading towards my target of 3680. We saw swing high up to 3580. On downside mcx crude oil support zones as well as fresh buying levels are 3475 and 3425 with stop loss. On upside 3580 and 3640 are intraday resistances as well as target zones. Positional commodity traders can expect 3680 target if sustain above 3475. Mcx natural gas almost hit 250 target

Mcx natural gas almost hit 250 target

Mcx natural gas last closed at 247.4 with huge gain. After correction natural gas prices resumed after taking support at 235 rupee. Heading for my positional target 250 rupee and hit swing high of 248.5. Above 250, will be fresh breakout for positional swing target of 272. On downside 232 and 225 are strong support zones as well as fresh buying levels for positional long traders. Mcx natural gas is near its second medium-long term target of 252 rupee.

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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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