Weekly Mcx Commodity Market Technical & Fundamental Analysis by CapitalHeight

INDORE, India - April 18, 2016 - PRLog -- MARKET WRAP
GOLD:-
MCX Gold witnessed bearish movement last week as strength in the dollar and global equities curbed appetite for the safe-haven metal.In Previous week MCX Gold down by 0.59% and settled at INR 28959 while COMEX gold closed down with 0.56%. In coming week bearish movement is expected if it sustain below the level of 29500 then down side movement is expected.
Outlook:
Trend:          Consolidate
Resistance:         29400, 29840
Support:          28620, 28280
Strategy:          Sell on high
SILVER:-
Last week MCX Silver witnessed bullish movement and showed biggest jump in one year ahead of rising global and domestic equity market boosted the firm demand. Silver closed on highest level last week since May 2015.
MCX Silver were down by 5.01% last week and settled at INR 38507 while COMEX Silver closed downside with 5.72%. For the coming week we can expect upside movement if it manages to sustain above 37750 and break 38800 then it can test 39000-39500.
Outlook:
Trend:          Consolidate
Resistance:         39200, 39890
Support:          37270, 26020
Strategy:          Sell on high
CRUDE OIL:-
MCX Crude were up by 2.78% last week and settled at INR 2698 while NYMEX Crude closed up with 1.76%. For the coming week we can expect upside movement if it sustain above 2650 and break the level of 2800 then it can test 2850-2900.
Outlook
Trend:          Consolidate
Resistance:         2810, 2920
Support:          2600, 2500
Strategy:          Buy on dips
COPPER:-
MCX Copper prices up by 2.90% last week and closed at INR 317.15 while COMEX Copper closed upside with 3.16%. Next week copper can witness bullish movement if it sustain above 310 then above 320 it can test 325-330 level.
Outlook
Trend:          Consolidate
Resistance:         323, 330
Support:          308, 300
Strategy:          Buy on dips
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