GOLD Market Overview
COMEX Gold is in an upward phase. Last week COMEX Gold break the level of 1400$ and made a low of 1380 but was not able to close above that . In the coming week 1375$ will act as a major support in COMEX Gold, if COMEX Gold sustains above 1425$ an ounce then above 1440 $ an ounce it can touch the level of 1460$ an ounce and if COMEX Gold sustains below 1390$ then it can slightly correct and test the level of 1370$ an ounce. Strategy
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1425$ an ounce, then above 1440$ it can test the level of 1460$ an ounce and above 1460$ it can further move upward. Trade by keeping the strict stop losses.
Major support for COMEX Gold in the coming week is 1370$ and 1340$.
Major resistance for COMEX Gold in the coming week is 1450$ and 1475$
Major support in MCX Gold is 20450 and 20150
Major resistance in MCX Gold is 21200 and 21450
SILVER Market Overview
COMEX Silver is technically strong on charts. Last week COMEX Silver sustained above 3400$. For the upcoming week 3350$ and 3200$ are the crucial supports and 3650$ and 3800$ are crucial resistance in COMEX Silver. In MCX Silver 55200 and 58000 will act as major resistance and 50000 and 48600 will act as major supports.
Strategy
Technically COMEX Silver is strong on charts, For the next week traders can use buy on. lower level strategy if Silver sustains above the level of 3530$ an ounce, then above 3680$. an ounce it can further go upward and can test the level of 3750$ an ounce. Trade by. keeping the proper stop losses.
CRUDE OIL Market Overview
NYMEX Crude is in upward phase. Last week in Crude oil neither sustained on higher levels nor at lower levels. For the coming week 93$ will act as major support and 107 $ a barrel will be a major resistance. In MCX Crude Oil major resistance is found at 4670 and 4835 and major supports will be 4370 and 4200.
Strategy
For the next week traders can use buy on lower level strategy, if NYMEX Crude sustains above the level of 96.00 $ a barrel then above 101.50 $ it can slightly come up and touch the level of 103.20 $ a barrel and in MCX above 4585 Crude oil can touch the level of 4650 if it sustains above 4470. Trade by keeping the proper stop loss.
Copper Market Overview
Copper is in an upward consolidation phase and traders should use the strategy of buy on lower levels. Last week COMEX Copper was up for most part of week. If next week COMEX Copper sustains above the level of 410 then above the level of 440 Copper can test the level of 447. In MCX Copper above 439 Copper can test the level of 445 if it does not break the level of 410 on the downside.
Strategy For the upcoming week 438 and 455 will act as major resistance and 407 and 396 will act as major supports in COMEX Copper. For MCX Copper major resistance would be 438 and 455 and supports would be found at 407 and 395.
Natural Gas Market Overview
Natural Gas is in a consolidation phase and traders should use the strategy of buying on lower levels. Last week Natural Gas was able to sustain above 3.800$ for most part of week. If next week Natural Gas sustains above the level of 3.960$ then above the level of 4.200$ Natural Gas can test the level of 4.300 $ and below 3.650$ Natural Gas can slightly go down and test the level of 3.490$. In MCX, if Natural Gas sustains above180 in the coming week then it can test the level of 190, if it does not break the level of 197 on the upside.
Strategy
For the upcoming week 3.650$ and 3.200 $ will act as major supports and 4.880$ and 5.200$ will act as major resistance in US Natural Gas. For MCX Natural Gas major resistance would be 207 and 220, supports would be found at 165 and 150.
USD/INROverview
USD/INR is consolidating on charts so traders can use the strategy of buying on lower levels. If next week USD/INR sustains above the level of 44.6600 then above the level of 45.2000 USD/INR can test the level of 45.4000 and below 44.6600USD/INR can slightly go down and test the level of 44.4000.
Strategy
For the upcoming week 44.5000 and 43.8000 will act as major supports and 46.4000 and 47.1000 will act as major resistance in USD/INR.
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