WEEKLY COMMODITY OUTLOOK
MCX Gold futures were ended positively compared to previous week. It was ended at 26594.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 25359 and resistance is 28195.
MCX Silver futures were ended at 38400 The Moving Average is below 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 37948 and resistance at 38688.
MCX Copper futures were traded at positively .The copper future was traded at High 398 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. The support is 333 & resistance 400
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MCX Nickel futures were traded at 831 in final trading day.The nickel futures were traded at low on last trading day.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 fall is exepected.The support seen at 820 and resistance 930.
MCX Lead futures are traded 114.20 at last final trading day and it was ended positively compared to previous week. The Moving Average is below the closing price. The RSI tested zone was neutral. The averages in MACD are above the zero line and positive cross over. The MCX Lead Support seen at 105.30 and resistance is 117.40.
MCX Crude oil Futures were traded at positively compared to previous week. It was ended at 3146. The Moving Average is below the Market closing price. RSI tested zone is neutral. The averages of MACD are below the Zero line and negative cross over. The MCX Crude oil may further upside is expected. The Ranges are upside 3533 and lower side 2720
MCX Aluminium futures were ended at 111.30 in last final trading day and it was ended at nearly same as compared to previous week.The Moving Average indicator is nearly above the closing price.The RSI tested is zone is neutral.The MACD is below the Zero line and negative cross over. The support is 109 and resistance 115 further upside is expected .
MCX Natural gas futures were traded at 166.20.Natural gas future were traded negatively 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 154 seen at and resistance 182.50.
MCX Zinc futures were finally traded at 130.10.The Moving average indicator is below the closing price.The RSI tested zone is neutral.The averages in MACD are above the zero line and positive cross over. The MCX Zinc further upside is expected.The support seen at 124.50 and resistance 134.50
*Chart source www.investing.com