commodity outlook technical’s report
mcx bullion outlook
mcx gold April future closed at 30719 with gains.today mcx gold future made lows near 30550 while high was near 30800 and closed near highs.for tomorrow above 30650 support stay long and expect 30900 to 31050 as target levels.right now weak rupee will help domestic gold to get its premium back but with that track comex gold if falls sharply then we may see 30500 to 30200 levels again.
mcx silver march future closed at 58360 with gains.today silver given consolidation all day and today mcx silver future low was near 58000 while high was near 58500 so very narrow range.watch 58300 as support below that 57600-57000 possible targets while upside 58900 is major resistance.
mcx base metals outlook
mcx aluminium future today closed at 110.65 with loss.today mcx aluminium future made low near 110.4 while high was near 111.5.trend and momentum weak and strategy for tomorrow remain sell on rise.on downside 110-109 are targets and 111.5 is stoploss.
mcx copper April future closed at 444.55 with loss.todays mcx copper high was near 448 while low was near 444 and closed near lows.intraday trend and momentum both weak and below 446 stay short for targets of 439-436.
mcx lead feb future closed at 128.5 with loss.today mcx lead future high was near 130.5 while low was at 128.5 and closed at lows.for tomorrow trend and momentum both absolute weak and may expect 127-126 on lower side 129.8 is stoploss.
mcx nickel feb future closed at 974 with loss.today mcx nickel future hit high near 995 while closed near lows.for tomorrow below 980 traders may expect 960-950 levels.trend and momentum both weak.
mcx zinc feb future closed at 114.45 with loss.today mcx zinc future hit highs near 115 while low was near 114.5 so very narrow range.114.2 is major support below that zinc future head towards 112.5-110.8 as target level.trend is up but momentum is clearly weak.
all metal future may lose shine as dollar index inching up and risk onn mode is activated all over global markets!!
mcx energy outlook
mcx crude oil future closed at 5139 with gains today we seen sharp dip and sharp recovery in crude oil prices that’s volatility and rupee weakness.today mcx crude oil future hit low near 5070 while high was near 5155.trend and momentum both down and above 5180 rally will get upside direction!!
mcx natural gas fen future closed at 183.6 with gains.today with gap up opening mcx natural gas future hit high near 185 while low was near 181.from now here strategy remain buy on dips as already given and expect 188-193 in short time my be in intraday!!!