WEEKLY COMMODITY OUTLOOK
MCX Gold futures were ended negatively compared to previous week. It was ended at 26887.The Moving Average is above the closing price. The RSI is in neutral zone. The averages in MACD are above the zero line and positive cross over. MCX Gold further may test upside is expected. The support seen at 25860 and resistance is 27990.
MCX Silver futures were ended at 37935.The Moving Average is below the closing price. The RSI is over sold zone and now it is in neutral. Averages in MACD are below the zero line and positive cross over .It may Further upside is expected. The support seen at 34980 and resistance at 38480.
MCX Copper futures were traded at positively . The copper future was traded at high 414.10 on last trading day. The Moving Average is below the closing price. The RSI tested is oversold zone. The MACD are above the zero line and positive crossover. Copper further upside is expected. The support is 370 & resistance 430.
MCX Nickel futures were traded at 914 in final trading day.The nickel futures were traded at low 764 on this trading week.The Moving Average is below the closing price.The RSI is in overbought.The MACD are above the zero line and positive cross over. The MCX Nickel futures further upside is exepected.The support seen at 762 and resistance 947.
MCX Crude oil Future was traded at 3785. The crude oil was ended at positively compared to previous week. The Moving average is below the closing price. The RSI tested zone is moving to oversold zone. The MACD are above the zero line and Positive cross over. The MCX Crude oil further upside is expected. The support 3220 and resistance 4100.
MCX Lead future were traded at positively compared to previous week. The lead finally traded at 130.45. The Moving average is above the closing price. The RSI tested zone is in neutral zone. The MACD is above the zero line and positive cross over. The MCX lead further upside is expected. The support is 134 and resistance is 141.
MCX Aluminium futures were ended at 119.60 in last trading day and it was ended at negative as compared to previous week. The moving average is above the closing price. The MACD is above the zero line and positive cross over.RSI is tested neutral zone. Aluminium future further upside is expected. The support is 107 and resistance is 132.80.
MCX Zinc Future was traded at 151.43. Zinc Future were ended at positively compared to previous week. The Moving average indicator is below the closing price. The RSI tested zone is moving towards to oversell zone. The MACD are above the zero line and positive cross over. The MCX Zinc further upside is expected. The support seen at 158 and resistance 145.
MCX Natural gas Future were traded at 183.40. Natural gas Future were ended at Positively compared to previous week. The Moving average is above the closing price. The RSI tested zone is Moving towards to oversold zone. The MACD are above the zero line and Positive cross over. The MCX natural gas further upside is expected. The support 175 and resistance 195.
*chart source- www.bazaartrend.com