MCX India weekly report,commodity forecast for upcoming week and free gold, silver crude-tips on mobile

This week of domestic market fall by a sharp point. On MCX gold and silver performing very bad, MCX gold prices are started this week from 29700 but on Saturday at 12:58 pm it’s watched at 27892. This was a big depreciation on gold prices near 6 month low on global market similar situation had seen in US gold prices are following to USD  1547.50 and expecting to some correction in upcoming weeks, whereas on China and Russia gold also had fall by more than 3% in this week.  In upcoming week gold is expecting to trade in the range of 26590 to 29845 and more on domestic market.

MCX silver prices again holding the hand of negative flag and falling down on Domestic market. This Week MCX silver for May delivery falls by more than -3000 point in red side. On Monday silver open above 51300 and on Saturday at 1:00 pm it’s watched at 48858.domestic market Silver prices are expecting to Bounce back again with a good volume.   On upcoming week silver again crosses the level of 50000.

Base metals are surviving on both directions with a low movement.  Copper, nickel and lead are performing well on MCX report. This week MCX copper are closing on down side by a few point but positive data is coming from LME and this will surely give some positive trend and support to Asian market copper. While nickel and lead are forcing the investor to hold their position for future trade and that’s the reason behind low reverse trend in this metals. Nickel and lead demands are changed in overseas market and in china’s required most.

Cotton and crude are dumb in MCX market, in previous month a time come when domestic crude crosses the level of 5300 but again its prices are comes to 4900. In this week MCX crude perform average with most red side. On Monday crude up in US market by 60 cent, but on domestic market crude oil are fall by more than -100 point on Saturday. Whereas cotton prices perform worst in this week and comes to 18650. In upcoming week some positive data is expected near 18900 .   

commodity movement in upcoming week and mcx report

Bullion

In recent week MCX gold and silver showing a different colors form the starting of the week. This week gold for April delivery open at 29374 with a strong support level. On Monday a huge increment had seen on MCX. In upcoming week positive shade is expected from gold in global as domestic market. Mcx silver is on fire this week on the early trading, it started with a level of 54980, but on Friday depreciation had seen for may contract. On Saturday at 11.02 am silver prices had seen at 54194 some analyst had think that in upcoming week silver prices ready to touch a sky. Let’s see what happen in upcoming week.

Buy silver above 54400 with a support level of 53500 and a resistance of 55000

Buy gold above 29450 with a support level of 29210 and a resistance of 29630

Crude oil

This week crude oil shows some good jump above 5000 as expected form that on MCX. On MCX crude oil, some more correction are expecting due to increment in Russia and New York.  On Friday New York crude prices moves up by 0.2% similarly Russia also shows positive report in crude and natural gas. In upcoming week crude oil go more up with a mixed movement on MCX for 19 March delivery.

Buy crude oil 5050 with a support level of 4990 and a resistance of 5090

Base metal

Base metal in upcoming week expected to show some correction, especially nickel. This week nickel performs badly and no hike had seen in it. This week nickel prices are falling from starting of week. Copper on LME showing a mixed movement in ongoing week no high movement had seen in copper.  Aluminum, zinc and lead show bit positive movement on early on week. In upcoming week all these metals are expected to work on negative side. US jobless data and European data trying to recover to due to lower demand this metal show mixed reaction.

Mentha oil and cotton

This week cotton is the top gainer who fire on MCX market on Friday by moving more than +300 point for 29 March. In recent week cotton started with the prices of 18440 and crosses the line of 19000 and in upcoming week expected more rise on it.  MCX cotton for 29 March perform well and advice to hold position and wait for the right price.

This week MCX mentha oil not performs in right direction and drop from its position.  Mentha oil prices are watched around 1240 in early of week but mentha oil can’t hold the position and fall down. But this week negative data is worthless and some correction might be happen in upcoming week.

Buy cotton above 18900 with a support level of 18600 and a resistance of 19200

Buy mentha oil above 1200 with a support level of 1170 and a resistance of 1230.

Natural gas performs well in this week and on Saturday at 11.54 it watched at 209.10, and expected more hike due to positive data in natural gas form Russian market.

Buy natural gas above 210 with support level of 205 and a resistance of 216.