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MCX TIPS / CALLS
Mcx Commodity Market Calls of India - Free Trading Tips
Crude, Zinc, Nickel, Lead, Gas, Gold, Silver Support & LME
MCX Commodity Market Technical Outlook View : 27/11/2018
MCX Commodity Market Technical Outlook View : 27/11/2018
GOLD TECHNICAL :
MCX Gold prices were little positive on Monday. On a weekly chart, MCX Gold price has been falling down from last couple of week; which indicates bearish sentiments in the counter. Moreover, price has retreated from 61.8% Retracement Levels and tested an immediate support at 50% levels. In addition, the price has moved below 100 EMA and lower “Bollinger Band” formation; which signifies bearish trend for near term. So based on the above technical structure; we expect bearish momentum in the prices for near term.
SILVER TECHNICAL VIEW :
On a weekly chart, MCX Silver has given rising trendline breakdown and sustained below it; which indicates further selling pressure in the counter. Moreover, price has moved below Ichimoku Cloud with negative crossover between span-A and span-B line on a weekly chart; which confirms bearish trend for near term. In addition, price has also shifted below 100 DEMA on a weekly chart; which point-out more bearishness in the prices. So based on the above technical studies; we expect bearish momentum in the prices for the day.
COPPER TECHNICAL VIEW :
MCX Copper prices opened on a positive note and traded in sideways momentum on Monday. On the daily chart, price has been trading within falling channel formation and also making lower lows and lower highs formation; which suggest bearish sentiments in the counter. Furthermore, a momentum indicator RSI and MACD has witnessed a negative crossover on an four hourly chart. So based on the above technical structure, we expect bearish movement in the prices for near term.
ZINC TECHNICAL VIEW :
MCX Zinc price has fallen down by 2% during the Monday trades. On a weekly chart, Zinc has been forming Head & Shoulder patterns; which is incompleted yet but indicates a huge down fall in the counter for near term. Moreover, price has sustained below 100 DEMA and Ichimoku clod; which confirms bearishness in the counter. Furthermore, a momentum indicator RSI (14) and MACD has slipped down with negative crossover. So based on the above structure, we expect downside movement in the prices.
CRUDE OIL TECHNICAL VIEW :
MCX Crude Oil prices rebounded on Monday after slumping 8% last Friday while, Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday. Moreover, price has moved below Ichimoku Cloud formation; which signifies more bearishness in the counter. Furthermore price has sustained below 100 DEMA, which suggest downward move for near term. So based on the above technical structure; we expect downward move in the price for near term.
NATURAL GAS TECHNICAL VIEW :
MCX Natural Gas price has dropped almost 7% during the Monday trades. Overall, price are under pressure and highly volatile from last couple of days. On an four hourly chart, price has been trading between two consecutive lines and sustaining below 21 SMA. Furthermore, on the daily chart, price has shifted below 50% retracement levels of its prior uptrend. So based on the above technical studies; we expect sideways to bearish momentum in the prices for the day.
