It’s very hard to decide which direction bullion commodities will go now because Shanghai-based bullion bank said, “If Trump is to perform some military action against North Korea, gold will definitely reach $1,300.” After Trump’s victory bullion commodities are going upside and metal commodities are going down. Look at the broad-based ETPs heatmap to understand last week games and that’s clearly indicating Precious Metals & Energy was positive and Industrial metals was weak.
Above COMEX market wrap-ups can help you to understand the MCX previous week movement. You may see last week Top Gainers & Top Losers below to get how that impacted:
|TOP GAINERS||TOP LOSERS|
|Silver mini||1183||2.86%||Nickel mini||-30||-4.57%|
|Crude oil mini||62||1.85%||Alimini||-2.6||-2.07%|
|Gold guinea||396||1.70%||Zinc mini||-3.35||-1.95%|
Previous week MCX Top Three Gainers(in Mega) was Silver (2.88%), Gold (2.53%) & Crude oil (1.82%) and Top Three Losers(in Mega) was Nickel (-4.58%), Copper(-2.62%) & RBDPMOLEIN(-2.39%).
GOLD & SILVER – BEST FOR INTRADAY TRADING
Moneymunch received so many comments & emails about Gold & Silver next moves. As per reader request, I should say 29000 to 29800 levels range are a trap for short-term/long-term investors. You must keep playing intraday trading between this range. If gold will break this range then my email will come in your inbox.
But if we talk about Silver then I should say buy at/above 42700 level after closing, for 43000-43400 levels.
CLICK BELOW “READ MORE” BUTTON TO READ CONTINUE… MCX GOLD, SILVER, CRUDE OIL, NICKEL & LEAD TECHNICAL REPORT…
CRUDE OIL AT TURNING POINT
In previous two trading session, crude oil closed negative side but don’t forget it was the last week 3rd Top gainer. Crude oil closed at 3420 with -16 rupees loss. This level is very crucial, look at below chart:
Look at red down arrow, that’s clearly indicating Crude oil rejected many a time to go upside. Additionally, it had broken 2016 upside trend line in 2017 January. Do you still think, Crude oil trend is upside for short-term then you can be a fool!
Yes, that’s best for the intraday. I had also given Buy call in last week to premium subscribers. You can the screenshot:
But I’m not recommending keep buying for short-term/long-term RightNow. Yes, if crude oil will consecutively close above to 3420 for 2-3 times more then you can buy it without any worry for 3600-3640 levels. And if it will remain down and close below to 3400 level then sell for 3300-3200 for next week!
MCX NICKEL IS BEST FOR SHORT-TERM
Nickel trend was changed a month before of 2017 beginning. Recently it had broken support trend line. Nickel continue weakening can drag down up to 610 – 580 below levels.
If nickel will close above to Level 650 then it can run up for short-term up to 670 levels.