MCX metals trading guide for 5th
September
R3
|
R2
|
R1
|
Pivot
|
S1
|
S2
|
S3
|
|
ALUMINI
|
110.90
|
109.55
|
108.55
|
107.20
|
106.20
|
104.85
|
103.85
|
CRUDEOIL
|
5492.00
|
5453.00
|
5383.00
|
5344.00
|
5274.00
|
5235.00
|
5165.00
|
GOLDGUINEA
|
25360.33
|
25268.67
|
25216.33
|
25124.67
|
25072.33
|
24980.67
|
24928.33
|
GOLDM
|
31586.33
|
31500.67
|
31421.33
|
31335.67
|
31256.33
|
31170.67
|
31091.33
|
GOLDPETAL
|
3174.33
|
3164.67
|
3158.33
|
3148.67
|
3142.33
|
3132.67
|
3126.33
|
LEADMINI
|
112.93
|
112.22
|
111.43
|
110.72
|
109.93
|
109.22
|
108.43
|
MENTHAOIL
|
1372.73
|
1366.87
|
1360.93
|
1355.07
|
1349.13
|
1343.27
|
1337.33
|
NATURALGAS
|
170.03
|
165.77
|
163.23
|
158.97
|
156.43
|
152.17
|
149.63
|
NICKELM
|
927.73
|
923.07
|
914.83
|
910.17
|
901.93
|
897.27
|
889.03
|
SILVER
|
62110.67
|
61447.33
|
61026.67
|
60363.33
|
59942.67
|
59279.33
|
58858.67
|
ZINCMINI
|
106.20
|
105.40
|
104.70
|
103.90
|
103.20
|
102.40
|
101.70
|
The
above chart is meant for the MCX traders who trade in base metals. Lead and
zinc are on the rise. They are in the overbought zone as I said yesterday. Gold
and silver are rising from the beginning of last month. These two metals always
tend to travel in same direction. Gold is expected to rise even further by the
year end. Therefore traders can look for opportunities in gold and silver
trading as they are considered safe heaven. Buy on dips is the mantra for gold.
In the coming posts I shall write more about gold and silver.
Happy
trading !
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