WEEKLY COMMODITY OUTLOOK
MCX Gold futures were ended negatively compared to previous week. It was ended at 26845.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 low side is expected. The support seen at 23890 and resistance is 28780.
MCX Silver futures were ended at 38327.It was traded negatively on last week. The Moving Average is above the closing price. The RSI is over sold zone and now it is in neutral. Averages in MACD are above the zero line and positive cross over .It may Further downside is expected. The support seen at 34580 and resistance at 39250.
MCX Copper futures were traded at negatively on last trading day is 386.30. The Moving Average is above the closing price. The RSI tested is neutral zone. The MACD are below the zero line and negative crossover. Copper further downside is expected .The support is 371 & resistance 404.
MCX Nickel futures were traded at 808 on final trading day.The nickel futures were traded negatively in this trading week.The Moving Average is above the closing price.The RSI is in neutral zone.The MACD are below the zero line and negative cross over. The MCX Nickel futures further upside is exepected.The support seen at 787 and resistance 907.
MCX Crude oil Future was traded at 3872. The crude oil was ended at positively compared to previous week. The Moving average is below the closing price. The RSI tested zone is oversold. The MACD are above the zero line and Positive cross over. The MCX Crude oil further upside is expected. The support 3500 and resistance 4250.
MCX Lead future was traded at negatively compared to previous week. The lead finally traded at 124.60. The Moving average is below the closing price. The RSI tested zone is in neutral zone. The MACD is below the zero line and Negative cross over. The MCX lead further upside is expected. The support is 115 and resistance is 138.
MCX Aluminium futures were ended at 110.30 in last trading day and it was ended at nearly same as 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 downside is expected. The support is 102 and resistance is 125.80.
MCX Zinc Future were traded at 139.60. Zinc Future was ended at negatively compared to previous week. The Moving average indicator is above the closing price. The RSI tested zone is Moving towards to neutral zone. The MACD are below the zero line and negative cross over. The MCX Zinc further downside is expected. The support seen at 128 and resistance 150.
MCX Natural gas Future were traded at 169.90. Natural gas Future were ended at Negatively compared to previous week. The Moving average is above the closing price. The RSI tested zone is Neutral. The MACD are above the zero line and Positive cross over. The MCX natural gas further downside is expected. The support 155 and resistance 198.
*chart source- www.bazaartrend.com