commodity outlook technical’s report
mcx bullion outlook
mcx gold feb expiry future last closing was at 30216 with loss.today with flat opening we seen sharp sell of in gold as rupee become strong thus losing premium and comex gold also given intraday dip so both made pressure and we seen lows near 30k.but in later half as gold recovered ahead of fed meet we seen recovery rally and highs near 30300.for tomorrow buy above 30250 only.
mcx silver march expiry closed at 59120 with sharp gains.today silver future with gap up opening rallied upto 58300 but in mid session we seen dips upto 57700 and on fed expectation rally triggered and sharp short covering given closing at day high.silver trend and momentum bullish and buy near support 58400.
mcx base metals outlook
mcx aluminium feb expiry future closed at 111.35 with gains.todays low point was near 109.6 while high was near 111.6 so total almost 2 rupee+ move with strong buying momentum.for tomorrow above 110.2 follow buy on dips and expect 112-113 level on upside.
mcx copper feb expiry future closed at 442.3 with gains.finally copper resilient resulted in upside breakout and closed near day high.todays mcx copper low was near 438 while closed at day high.tomorrow outlook is positive and above 439 strategy will be buy on dips.upside expect 445-448.
mcx lead feb expiry future closed at 130.24 with gains.today mcx lead hit highs near 130.6 while low was near opening at 128.8.on chart 129.8 is first support and buying zone for targets of 131-132.5.
mcx nickel feb future closed at 979 with huge gains.our given target of 980 achieved now nickel at critical level from long term perspective.on downside 971 and 960 and trend and momentum strong bullish.if cross 985-995 zone on closing basis then long term outlook positive and 1040 to 1080 will be targets.
mcx zinc feb expiry future closed at 114.2 with gains.today we seen highs of 114.4 while low was near opening of 112.8.for tomorrow 115.5 to 117 will be targets and 113.6 and 113 are intraday supports.
mcx energy outlook
mcx crude oil feb future closed at 5208 with loss.today mcx crude oil future made highs near 5240 while low was near 5190 on sharp fall.on intraday chart trend and momentum looks bearish and below 5225 stay shorts for small downside targets as many supports in the ways.
mcx natural gas feb expiry future closed at 178 with gains.today with gap down opening made lows near 174 while high was near 179 and closed near highs.as equity market showing profit booking rally must trigger here and expect 182-185 levels tomorrow!!