Mcx gold update
Mcx gold future opened gap up and climbed up pretty good and now trading up 270 rupees at 26800, Majorly mcx rise came due to USD/INR which is trading up 0.25%. Now if mcx gold click our support of 26680 and manage to sustain below our mcx support then expect gold to correct upto 26550- 26400 today.
If mcx gold future click our resistance of 26930 and sustain above our resistance then expect this major commodity price to fire upto 27070 – 27200 today.
Mcx gold market conclusion: Gold forecast is positive for today.
Comex gold price chart support stands at 1165$, If traders tank this base and manage to sustain trade below our support. Then expect more pressure in comex futures upto 1155$ – 1148$ today.
Good hurdle on xauusd chart stands at 1192$, If traders break this hurdle and manage to sustain trade above our resistance. Then expect good firepower upto 1201$ – 1208$ today.
Mcx Silver update
Mcx silver future trading approx 400 rs up from its last closing at 36380 , if silver click our resistance of 36800 and sustain above our resistance today then expect this major commodity to fire upto 37100 – 37350 today.
If mcx silver future click our support of 35920 and sustain below our technical support today then expect this major commodity to correct upto 35600 – 35300 today
Mcx silver market conclusion: Silver price forecast is positive for now.
Comex silver chart support stands at 15.50$, if traders tank this base and manage to sustain trade below our support. Then expect more pressure upto 15.30$ – 15.05$ today.
A good hurdle on silver chart stands at 16.05$, If traders break this hurdle and manage to sustain trade above our resistance. Then expect good firepower upto 16.30$ – 16.55$ today.
Markets are trading in highly volatile range. Do not trade with high qty. Trade minimum and place stop loss in every trade. Strict stop loss in every position is highly recommended. Do not open trade without any stop loss. Try to trade with small qty before major data.
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