MCX weekly

Crude Oil November :

 

Mp Crude 1 Mcx Weekly

 

Crude Oil is balancing as we observed earlier in the week.

 

That balancing act should give a low risk high probability trade.

 

The idea would be to take a buy above 4684 for 4729 and 4760 as targets. Stops can be kept below 4635.

 

Gold :

 

Mp Gold 0 Mcx Weekly

 

Gold chart shows two tops in the 31450 region and 2 bottoms at 31860 in the past two weeks.

 

Longs can be taken above 31140 with stops below 30980 for 31350 and 31440.

 

Silver :

 

Mp Silver 0 Mcx Weekly

 

Silver is exhibiting signs of a bottom formation at 58800 and should resume the upmove above 60200 next week.

 

The immediate target above 60200 would be 60950 and 61650.

 

Natural gas :

 

Mp Natgas 5 Mcx Weekly

 

Natural gas stayed below the 212 high volume zone pointed last week.

 

The high volume point has now shifted below to 205.5.

 

Lower support is at 201 breach of which should bring 197.4 and 193.5.