Mcx gold remain sell on rise tgts 27800-27500
Mcx gold future last closed at 28110. Mcx gold price trend and momentum both are down. Mcx gold future below 29300 remain sell and my swing bearish targets are 27250 and then 26100. Mcx gold already gave low near 27800. Use 28500-28700 zone to go short on bounce back and expect targets 27800 and 27500 on downside. Volatility will remain high in bullion markets on news flow.
Mcx silver remain sell below 42k zone
Mcx silver future on last trading session closed at 41293 with strong gains. Silver prices are coming off oversold zone but remain weak and sell on rise. My mcx silver outlook is bearish and below 42k remain absolute sell on downside 39100 and then 37000 are my swing short targets. While short term traders can expect 40400 and then 39500 as target zones.
Mcx aluminium remain sell below 118 TGT 113.3 and then 108.8
Mcx aluminium future last closed at 116.65 with loss. As expected aluminium prices given breakdown below 118 and heading towards my swing targets 113.3 and then possibly 108.8. Below 118 metal traders can keep sell on rise view for targets 113.3 and below. Mcx aluminium weekly chart is overbought and suggesting correction up to 106.5 in medium-long terms.
Mcx copper remain buy on dips targets 404-418
Mcx copper future last closed at 395.95 with loss. We saw correction up to 393 but copper is still strong and seeing buying on lower levels. We saw dip up to 388 but traders bought it and rally given high up to 404. My mcx copper view is bullish and traders can use 391 and 384 support zones as buying levels. Keep targets at 404 and 418 for short terms. Above 379, my mcx copper swing target is 435.
Mcx lead breakdown below 157.5 targets 152 and 145
Mcx lead future last closed at 153.45 with loss. Mcx lead is now seeing strong profit booking and as expected correcting towards my December bearish target of 140 rupee. For Monday, mcx lead below 157.5 remain sell on rise and my intraday target zones are 152 and then 145 rupees. Positional traders can hold shorts with stop loss above 157.5 for target 140 rupee on downside.
Mcx nickel reversal targets 785-800+
Mcx nickel future on last trading session has taken support at 758 and closed with gain. Mcx nickel future above 758 remain buy and accumulate for targets 785 and then 800 rupee. On downside mcx nickel intraday support zones are 758 and 750 rupees and these are fresh buying zones.
Mcx zinc breakdown below 183.5 targets 182-175
Mcx zinc future on last trading session closed at 182.1 with loss. We saw breakdown below major pivot support of 183.5 which is very bearish sign and fresh sell signal for short terms. For intraday, mcx zinc below 183.5 remain sell on rise. On downside mcx zinc intraday targets will be 182 and then 175 rupees. Below 183.5, my mcx zinc target will be very bearish and up to 163 rupee from short to medium term view.
Mcx crude oil momentum might continue targets 3540-3600
Mcx crude oil future last closed at 3495. Mcx crude oil achieved my first swing target of 3475 and trading above it means next swing target of 3680. Mcx crude oil future price trend and momentum both are strong bullish. On downside 3475 ad 3400 are support zones as well as fresh long entry zones. On upside 3540 and 3600 are intraday target zones for mcx crude oil future.
Mcx natural gas heading for supports 225-221
Mcx natural gas on last trading session closed at 233. Mcx ng future price trend and momentum both are strong bullish and prices are in overbought zones. Mcx natural gas on downside has strong support zones at 225 and 221. On upside 244 is major resistance as well as target zone. My mcx natural gas swing target was at 250 and we already saw swing high up to 244.