WEEKLY COMMODITY OUTLOOK
MCX Gold futures were ended negatively compared to previous week. It was ended at 26720.The moving Average is same as 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 support and rise. The support seen at 25565 and resistance is 27865.
MCX Silver futures were ended at 35982.The Moving Average is above the closing price. The RSI is over sold zone and now it is in neutral. Averages in MACD are below the zero line and negative cross over .It may Further upside is expected. The support seen at 34220 and resistance at 38425.
MCX Copper futures were traded at positively compared to previous week. The copper future was traded at 384.04.10 on last trading day. The Moving Average is below the closing price. The RSI tested zone is Neutral. The MACD are above the zero line and positive crossover. Copper further downside is expected .The support is 365 & resistance 394.
MCX Nickel futures were traded at 844 in final trading day.The nickel futures were traded at low 781 on this trading week.The Moving Average is below 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 759 and resistance 920.
MCX Crude oil Futures were traded at positive compared to previous week. It was ended at 3486. The Moving Average is below the Market closing price. RSI oversold tested zone is neutral. The averages of MACD are above the Zero line and positive cross over. The MCX Crude oil may further downside is expected. The Ranges are upside 3580 and lower side 2636
MCX Lead future was traded at positively compared to previous week. The lead finally traded at 132.30. The Moving average is below the closing price. The RSI tested zone is moving towards to oversold zone. The MACD is above the zero line and positive cross over. The MCX lead further upside is expected. The support is 120 and resistance is 142.
MCX Aluminium futures were ended at 116.25 in last trading day and it was ended at positive as compared to previous week. The moving average is below the closing price. The MACD is above the zero line and positive cross over. Aluminium future further upside is expected. The support is 108 and resistance is 119.80.
MCX Zinc Future were traded at 142.90. 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 oversold zone. The MACD are above the zero line and positive cross over. The MCX Zinc further upside is expected. The support seen at 133 and resistance 150
MCX Natural gas Future were traded at 160.90. 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 below the zero line and Negative cross over. The MCX natural gas further downside is expected. The support 158 and resistance 175.
*chart source- www.bazaartrend.com