WEEKLY COMMODITY OUTLOOK
MCX Gold futures were ended positively compared to previous week. It was ended at 26785.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 25899 and resistance is 27350.
MCX Silver futures were ended at 36735.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 upside is expected. The support seen at 34670 and resistance at 39125.
MCX Copper futures were traded at positively compared to previous week. The copper future was traded at 377.10 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. Copper further downside isexpected The support is 361 & resistance 387.
MCX Nickel futures were traded at 791 in final trading day.The nickel futures were traded at low 780 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 835.
MCX Crude oil Futures were traded at positive compared to previous week. It was ended at 3217. 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 upside is expected. The Ranges are upside 3415 and lower side 2675.
MCX Lead futures were traded at positively when compared to previous week. The last trading price is 124.35 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 115.70 and resistance is 130.50.
MCX Aluminium futures were ended at 110.5 in last trading day and it was ended at negative 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 downside is expected. The support is 105 and resistance is 114.
MCX Zinc Futures were traded at 137.50. 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 over sold zone. The MACD are above the zero line and positive cross over. The MCX Zinc further upside is expected. The support seen at 128 and resistance 139.
MCX Natural gas Future were traded at 157.90. Natural gas Future were ended at negatively compared to previous week. The Moving average is above the closing price. The RSI tested zone is moving towards to overbought zone. The MACD are below the zero line and positive cross over. The MCX natural gas further upside is expected. The support 156.50 and resistance 182.
*chart source- www.bazaartrend.com