MCX Gold February
Gold prices have reversed after taking support at 26,500 levels. There is a positive divergence seen in RSI on the daily chart. We expect prices to go up to levels of 27,900.
MCX Silver March
Silver prices are taking support at levels of 48,500. Immediate resistance is at 51,600 levels. If we get a close above 51,600 we expect prices to go up to levels of 53,500. We recommend a buy above 51,600 levels with a stop loss placed below 50,000 levels for a target of 53,500.
MCX Crude Oil January
Crude oil prices are taking resistance at 5,400 levels. If prices close below 5,260 levels we expect prices to correct up to levels of 5,100.
MCX Natural Gas January
Natural gas prices continue to stay in a sideways consolidation, in the range of 160-167 levels. As prices are near the lower band of the range and the oscillators are in the oversold territory we expect a technical bounce up to levels of 167.
MCX Copper February
Copper prices are trading close to its resistance level of 407. If prices close above 407 we expect prices to go up to levels of 415. We recommend a buy above 407 levels with a stop loss placed below 401 levels for a target of 415.
Gold prices have reversed after taking support at 26,500 levels. There is a positive divergence seen in RSI on the daily chart. We expect prices to go up to levels of 27,900.
MCX Silver March
Silver prices are taking support at levels of 48,500. Immediate resistance is at 51,600 levels. If we get a close above 51,600 we expect prices to go up to levels of 53,500. We recommend a buy above 51,600 levels with a stop loss placed below 50,000 levels for a target of 53,500.
MCX Crude Oil January
Crude oil prices are taking resistance at 5,400 levels. If prices close below 5,260 levels we expect prices to correct up to levels of 5,100.
MCX Natural Gas January
Natural gas prices continue to stay in a sideways consolidation, in the range of 160-167 levels. As prices are near the lower band of the range and the oscillators are in the oversold territory we expect a technical bounce up to levels of 167.
MCX Copper February
Copper prices are trading close to its resistance level of 407. If prices close above 407 we expect prices to go up to levels of 415. We recommend a buy above 407 levels with a stop loss placed below 401 levels for a target of 415.
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