WEEKLY COMMODITY OUTLOOK
MCX Gold futures were ended negatively compared to previous week. It was ended at 26454.The Moving Average is below 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 25605 and resistance is 27168.
MCX Silver futures were ended at 37315.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 34873 and resistance at 39743.
MCX Copper futures were traded at negatively compared previous week. The copper future was traded at 375.45 on last trading day. The Moving Average is above the closing price. The RSI tested zone is Neutral. The MACD are above the zero line and positive crossover. The support is 357 & resistance 392.
MCX Nickel futures were traded at 809.5 in final trading day.The nickel futures were traded at low 776 on 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 765 and resistance 876.
MCX Crude oil Futures were traded at negatively compared to previous week. It was ended at 3054. The Moving Average is nearly same as 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 upside is expected. The Ranges are upside 3408 and lower side 2720
MCX Lead futures were traded at positively when compared to previous week. The last trading price is 117. The Moving average is below the closing price. The RSI tested zone is overbought zone and now it is neutral. The MACD is above the zero line and positive cross over. The MCX lead further upside is expected. The support is 109.70 and resistance is 119.50.
MCX Aluminium futures were ended at 111.25 in last trading day and it was ended at nearly same as compared to previous week. The moving average is above the closing price. The MACD is below the zero line and negative cross over. Aluminium future further upside is expected. The support is 108 and resistance is 114.30.
MCX Zinc Future were traded at 132.50. The Moving average indicator is below the closing price. The RSI tested zone is neutral. The MACD are above the zero line and positive cross over. The MCX Zinc further upside is expected. The support seen at 125 and resistance 138.
MCX Natural gas futures were traded at 169.Natural gas future were traded positively when compared to previous week.The RSI tested zone is neutral.The averages in MACD are below the zero line and negative cross over.The MCX Natural gas further upside is expected.The support 159 seen at and resistance 181.50.
*chart source- www.bazaartrend.com