WEEKLY COMMODITY OUTLOOK
MCX Gold futures were ended negatively compared to previous week. It was ended at 26623.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 26165 and resistance is 27680.
MCX Silver futures were ended at 36550.The moving Average is same as 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 downside is expected. The support seen at 34820 and resistance at 38155.
MCX Copper futures were traded at positively. The copper future was traded at high 416.50 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 372 & resistance 440.
MCX Nickel futures were traded at 880 in final trading day.The nickel futures were traded at low 803 on this trading week.The Moving Average is below the closing price.The RSI is in oversold zone.The MACD are above the zero line and positive cross over. The MCX Nickel futures further upside is exepected.The support seen at 763 and resistance 947.
MCX Crude oil Futures were traded at positive compared to previous week. It was ended at 3759. 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 4195 and lower side 2625.
MCX Lead futures were traded at positively compared to previous week. The lead finally traded at 136. The Moving average is below the closing price. The RSI tested zone is moving towards to oversell zone. The MACD is above the zero line and positive cross over. The MCX lead further upside is expected. The support is 123 and resistance is 145.
MCX Aluminium futures were ended at 121.55 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.RSI is tested oversold zone. Aluminium future further upside is expected. The support is 109 and resistance is 135.80.
MCX Zinc Future was 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 178.40. 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 160 and resistance 185.
*chart source- www.bazaartrend.com