WEEKLY COMMODITY OUTLOOK
MCX Gold futures were ended negatively compared to previous week. The Moving Average is nearly above the closing price. The RSI is in neutral zone. The averages in MACD are below the zero line and negative cross over. MCX Gold further may test support and rise. The support seen at 25275 and resistance is 27610.
MCX Silver futures are tested weekly High on second trading day .The silver futures were ended at 35999 The Moving Average above the closing price. The RSI is in neutral zone. Averages in MACD are below the zero line and negative cross over. The MCX Silver may test support. The support seen at 33412 and resistance at 38866.
MCX Copper futures were traded at positively when compared to the previous week. The high trading range in this week is 374.95.The Moving Average is same as the closing price. The RSI tested zone is Neutral. The averages in MACD are above the zero line and positive cross over.MCX Copper further upside expected. The support is 340.50 and resistance 375.30
MCX Nickel futures were traded positively compared to previou week. The Moving Average is below the closing price.The RSI is in neutral and market moving towards overbought zone.The MACD are below the zero line and negative cross over. The MCX Nickel futures further upside is exepected.The support seen at 865 and resistance 934.
MCX Crude oil Futures were traded at nearly same as the previous week. The Moving Average below and Market closing price is same. RSI tested zone is neutral. The averages of MACD are below the Zero line and negative cross over. The MCX Crude oil may range bound. The Ranges are upside 3346 and lower side 2845.
MCX Lead futures are traded at 114.35 last final trading day and it was ended nearly same as the previous week. The Moving Average is Below the closing price. The RSI tested zone was neutral. The averages in MACD are below the zero line and negative cross over. The MCX Lead Support seen at 106.50 and resistance is 117.60.
MCX Aluminium futures ended at 112 last final trading day and it was ended at negatively compared to previous week.The Moving Average indicator is below the previous closing price.The RSI tested is oversold zone and now it is neutral. The MACD is below the Zero line and negative cross over.The MCX Aluminium further fall is expected . The support is 110 and resistance 114.
MCX Zinc futures were traded at 126.50.The Moving average indicator is above the closing price.The RSI tested zone is neutral.The averages in MACD are below the zero line and negative cross over. The MCX Zinc further downside is expected.The support seen at 124.30 and resistance 132.20.
MCX Naturalgas futures were traded at positively when compared to previous week. Natural gas future were traded High on last trding day. The high price is 178. The Moving average indicator is below the closing price.The RSI tested zone is neutral and it moving towards oversold Zone.The averages in MACD are below the zero line.The MCX Natural gas further upside is expected.The support seen at 167.60 and resistance 188.20
*chart source- www.bazaartrend.com