Sell MCX Gold Feb: Immediate resistances are placed around 29010 and 29180 levels | Sell MCX Silver | Buy MCX Crude | Sell MCX Zinc | Indianotes.com


MCX GOLD FEB: Gold prices fell sharply in the last session and broken down from its previous week’s low of 28950. Prices have been trading in a corrective mode since last three months and are expected to correct further from these levels towards immediate strong support placed around 61.8% Fibonacci retracement of its rally from low of 27603 till high of 30474, which is placed at 28700 level. On the higher side immediate resistances are placed around 29010 and 29180 levels. Action: Sell


MCX SILVER MAR:
Silver prices have been trading in corrective mode since last three months and prices have broken down from its strong support of 61.8% Fibonacci retracement of its rally from low of 35460 till high of 41927, which is placed at 37930 level. Prices are expected to correct further from these levels towards immediate strong support placed around its previous swing low of 36935. On the higher side immediate resistances are placed around 37850 and 38250 levels. Action: Sell


MCX CRUDE OIL DEC:
Crude oil prices have corrected slightly in the previous few sessions from its recent high of 3815. Prices have been trading in a strong bullish trend since last five months and taken strong support at its short term rising trend line. Prices are expected to hold this support and continue this rally towards immediate resistance placed around its recent swing high of 3802. On the lower side immediate support is placed around 3660 level. Action: Buy


MCX ZINC DEC: Zinc prices fell sharply in the last session and broken down from its previous week’s low of 201.60. Previously prices have given breakdown from its short term rising trend line support and have been correcting gradually since last one month. Prices are expected to correct further from these levels towards immediate strong support placed around its previous swing low of 199.20 level. Action: Sell

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