GOLD TODAY : On the hourly chart, MCX Gold price has fallen below 20 EMA which is a bearish condition. In addition, price has been making lower top and lower bottom on the hourly chart. Moreover, momentum indicator RSI has fallen below 40 on the hourly. Therefore, we expect the Gold price to move lower towards 28100 levels.
SILVER TODAY : On the hourly chart price has been moving within a falling channel which is bearish pattern. Moreover, on the 4 Hourly chart, MCX Silver price has slipped below 20EMA. In addition, momentum indicator RSI has shown negative crossover on the daily chart. Therefore, we expect the Silver price to move lower towards 36700 level
COPPER TODAY : MCX Copper price has given breakout of its falling trend line on the 4 hourly chart. On the other hand prices have been trading above its 50 EMA. Momentum indicators MACD has given positive crossover on a daily chart, which indicates the strength in the prices. Based on above parameters we continue to remain bullish on Copper and expect move higher towards 420 in coming trading sessions
CRUDE OIL TODAY : MCX Crude Oil price has been trading within its rising wedge pattern on the 4 hourly chart. Furthermore, NYMEX Crude Oil price has broken above the previous peak $47.70 level. On the other hand prices have been trading above its 50 EMA. For now, we keep our view to bullish on MCX Crude with and expectation of move towards 3250 levels in the few trading session.