MCXOPTIONS

 

Commodity market outlook for coming days

October 15 , 2018

Gold : As per previous post Gold moved to 32311 as it broken the level of 32000. We have seen some profit booking from higher levels. For coming days 31800 support level and 32300 is now new resistance for GOLD.

Silver : As mentioned in previous post that 39500 level we can see in this week and Silver made high of 39444 today. We saw some profit booking from higher levels and currently trading around 39225. Strong support still around 38500 level.

Crude : WTI Crude faced resistance around 72 dollar and we have seen selling pressure, and once it was below 71 dollar. In Mcx Crude support somewhere around 5200 as mentioned in previous post and today it made low 5232 (till 09:43 pm) . Still support around 5200 and now resistance around 5335.

Copper : Copper made high of 464.75 and currently trading around 460.

Zinc : As per previous post zinc not broken level of 200 again and we have seen some profit booking in metal sector.

Lead : Lead is still volatile today. It made high of 156.40 in mcx and remain volatile today.

Nickel : Nickel not able to crossed 943-944 level and we have seen selling pressure from higher levels

Aluminium : Aluminium still facing hurdle to cross 152-153 level and today again it came down near to 150. Still support level 149/148 and resistance level 152/153.

Natural Gas : We have seen too much volatility in Natural Gas today again. After making low of 235 in morning session, once it moved to 241.80. Current market price 239.50 (9:50 pm)

Commodity market outlook for coming week

October 13 , 2018

Gold : Gold has strong support around 31500 level and resistance at 32000 level. If any of these level breaks in coming week then we can see more upside or downside of 200-300 point.

Silver : Silver now having strong support around 38500 to 38550 level..if all good then next week we can see the level of 39500.

Crude : WTI Crude closed at 71.48. As per chart Support at 70.80/70.50 and resistance at 72/72.50. In Mcx Crude support somewhere around 5200 and resistance at 5310. Next week on 17th Oct, there will be the expiry of crude options.

Copper : Last week copper was is the range of 447 to 465. These level are crucial for coming week also. Resistance in copper around 462 then 465 and support is around 455 / 448.

Zinc : It looks the still Zinc in the tight range of 194 to 200. Next trend will clear when Zinc will go below 194 or will cross 200 level in MCX.

Lead : Lead was very volatile last week and hope in coming week volatility will remain intact in this metal. Resistance level for lead 154-155 and strong support at 149-150 now.

Nickel : Nickel getting support around 925 and getting hurdle to cross 950. Next week these are the important levels for Nickel

Aluminium : After a great move of 20 points from 148 to 168, we have seen Aluminium prices again dropped to 150 level. For next week 149/148 is support level and resistance now at 152.

Natural Gas : We have seen too much volatility in Natural Gas in last one week after a long time. It's range was very wide 230 to 250. Seems this week also we will see high volatility in Natural Gas

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We are here to provide technical levels and news on equity and commodity market. You will also get time to time options related recommendations.


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