Weekly commodity outlook

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WEEKLY COMMODITY OUTLOOK MCX Gold futures were ended Negatively compared to previous week. It was ended at 25912.The Moving Average is above the closing price. The RSI is in neutral zone. The averages in MACD are below the zero line and negative cross over. MCX Gold further may test support and rise. The support seen at 25482 and resistance is 27318. MCX Silver futures were ended at 35564 The Moving Average above the closing price. The RSI is in neutral zone. Averages in MACD are below the zero line and negative cross over. The MCX Silver may test support .It may Further upside is expected. The support seen at 33899 and resistance at 38763. MCX Copper futures were traded at Range bound. The high trading range in this week is 375.40.The Moving Average is below the closing price. The RSI tested zone is Neutral. The averages in MACD are above the zero line and positive cross

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Gold prices ticked up in early Asia on Monday as investors looked at physical demand prospects though dollar strength continues to weigh on the commodity. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.25% to $1,155.30 a troy ounce. Elsewhere on the Comex, silver futures for May delivery gained 0.47% to $15.567 a troy ounce. Meanwhile, copper for May delivery fell 0.46% to $2.659 a pound despite recent Chinese economic data that has fuelled speculation policymakers in Beijing will have to introduce further stimulus measures to boost growth and ward off deflation. The Asian nation is the world’s largest copper consumer, accounting for almost 40% of world consumption last year.

Transcript of Weekly commodity outlook

Page 1: Weekly commodity outlook

WEEKLY COMMODITY OUTLOOK

MCX Gold futures were ended Negatively compared to previous week. It was ended at 25912.The Moving Average is above the closing price. The RSI is in neutral zone. The averages in MACD are below the zero line and negative cross over. MCX Gold further may test support and rise. The support seen at 25482 and resistance is 27318.

MCX Silver futures were ended at 35564 The Moving Average above the closing price. The RSI is in neutral zone. Averages in MACD are below the zero line and negative cross over. The MCX Silver may test support .It may Further upside is expected. The support seen at 33899 and resistance at 38763.

MCX Copper futures were traded at Range bound. The high trading range in this week is 375.40.The Moving Average is below the closing price. The RSI tested zone is Neutral. The averages in MACD are above the zero line and positive cross over.MCX Copper further upside expected. The support is 352,4 and resistance 369.50.

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MCX Nickel futures were traded at 892 in final trading day. The Moving Average is below the closing price.The RSI is in neutral and market moving towards overbought zone.The MACD are below the zero line and negative cross over. The MCX Nickel futures further upside is exepected.The support seen at 851 and resistance 935.

MCX Crude oil Futures were traded at negatively compared to previous week. It was ended at 2865. The Moving Average is above 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 down. The Ranges are upside 3283 and lower side 2781.

MCX Lead futures are traded 112.05 at last final trading day and it was ended nearly same as the previous week. The Moving Average is above 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 107.50 and resistance is 114.20.

MCX Aluminium futures ended at 111.59 last final trading day and it was ended at negatively compared to previous week.The Moving Average indicator is nearly same as the previous closing price.The RSI tested is oversold zone and now it is neutral. The MACD is below the Zero line and negative cross over. The support is 109 and resistance 113 further fall is expected .

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MCX Natural gas futures were traded at 174. Natural gas future were traded High on last trding day. The high price is 178. The Moving average indicator is below the closing price.The RSI tested zone is neutral and it moving towards oversold Zone.The averages in MACD are below the zero line.The MCX Natural gas further upside is expected.The support seen at 163.60 and resistance 188.20

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MCX Zinc futures were finally traded at 127.The Moving average indicator is below the closing price.The RSI tested zone is neutral.The averages in MACD are below the zero line and negative cross over. The MCX Zinc further upside is expected.The support seen at 124.70 and resistance 134.20

*Chart source www.investing.com

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