Buy MCX Gold December: Prices are expected to rise towards 29955 | Buy MCX Silver | Sell MCX Crude | Sell Zinc | Indianotes.com


MCX GOLD DEC: Gold prices opened slightly lower in the last session and prices corrected initially till low of 29427. Later prices rose strongly for the remaining session till high of 29662 and closed out of its strong resistance of short term declining trend line of the falling trend channel. Prices are expected to rise further from these levels towards next resistance placed around its previous swing high of 29955 level. On the lower side immediate supports are placed around 29500 and 29300 levels. Action: Buy


MCX SILVER DEC:
Silver prices opened lower with gap in the last session and prices corrected further for first half of the session till low of 39530. Later prices rose strongly for the remaining session and made a high of 39978. Prices closed above its declining trend line of descending triangle chart pattern. Prices are expected to rise further from these levels towards next resistance placed at its previous swing high around 40600 level. Action: Buy


MCX CRUDE OIL NOV:
Crude oil prices opened slightly lower in the last session and prices corrected sharply till low of 3613 level. Prices have started correcting after five days of consolidation in the range of 3680-3760 levels. Prices have broken down from this range in the last session and are expected to correct further from these levels towards next supports placed around 3560 and 3510 levels. On the higher side immediate resistances are placed around 3665 and 3715 levels. Action: Sell


MCX ZINC NOV: Zinc prices opened slightly lower in the last session and prices fell sharply till low of 206.40 level. Prices have made a potential head & shoulder chart pattern on the daily chart and neckline of the pattern is placed around 206.50 level. Prices are expected to fall further from these levels if sustain below 206.50 level towards next support placed around its previous swing low of 199.20 level. On the higher side immediate resistance is placed at 211.60 level. Action: Sell

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