Weekly Commodity Market News By Epic Research 31stMarch 2014
GOLD MCX TECHNICAL VIEW
MCX Gold(JUN) has opened the week at 29,088 levels and during this week and move above slightly made weekly high of 29141and price corrected sharply 3.83% lower from these levels and made low of 28024 levels and finally closed at 28120 levels. Price is trading FAR below MA 50 and 100, RSI is in oversold range. For the next week we expect gold prices to find support around 27800 level. But as comex gold has broken 1300 level, and still in bearish zone, MCX gold may go more downward.
SILVER MCX TECHNICAL VIEW
MCX Silver has opened the week at 44,510 levels and during this week price corrected 4.71% sharply lower, and finally closed lower at 42,759 levels.
Strong bearish trend seen last week in both MCX and Comex silver. We expect price may find support around 41800 level,and can go up to 43800 level.
NATURAL GAS MCX DAILY CHART
Prices has return from crucial support level 265. Stochastic is in a buy mode. We expect prices to
go up to levels of 280 and if success to brake 281 level than may find resistance at 295 level.
CRUDEOIL MCX TECHNICAL VIEW
Crude Oil suggest that prices have breached the crucial resistance of 6100 level. RSI is
in a buy mode. We expect prices to go up to levels of 6200.
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