5 January 2018

WEEKLY MCX OUTLOOK FOR 08-12 JAN 2018

Gold: Gold trading range for the day is 29400-29050. Gold is getting support at 29150 and below same could see a test of 29050 level, And resistance is now likely to be seen at 29300, a move above could see prices testing 29400. Gold is trading into a positive zone and traders can hold long positions until Gold closes below 29150 levels. Traders can initiate long positions on every dip until Gold closes below  29150  levels.
           
R2
R1
S1
S2
TREND
GOLD
30400
29300
29150
29000
BULLISH
Silver: Silver trading range for the day is 39600-38900. Technically Silver is getting support at 39100 and below same could see a test of 38900 level, And resistance is now likely to be seen at 39300, a move above could see prices testing 39600. Silver is trading into a positive zone and traders can go long at every dip or hold long positions until Silver closes below 39000  levels.
           
R2
R1
S1
S2
  TREND
SILVER
39600
39300
39000
38600
  BULLISH
CRUDE OIL: The crude oil trading range for the day is 3970-3850. Technically crude oil is
getting support at 3880 and below same could see a test of 3850 level, And resistance is now likely to be seen at 3930, a move above could see prices testing 3970. Crude oil is trading into a positive zone and traders can go long at every dip or hold long positions until crude oil closes below 3880  levels.
           
R2
R1
S1
S2
TREND
CRUDEOIL
3970
3930
3880
3840
SIDEWAYS

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