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As per the chart, MCX crude oil is under bearish pressure for a short period. It may fall for levels.
The long-term traders must keep their eyes peeled for a crossover into the S-RSI. The crude oil prices will fly into the sky. Be ready for levels.
Do you want to know about Silver?
Read the 3rd June report: MCX Silver Prices Go NEGATIVE! What’s Next?
As per the chart and situation, we will see more downside jump in crude oil prices.
Downtrend targets: 800 – 760 – 700 – 600 – 560 below
Traders can stop selling if it closed above the 1600 level or watch out the resistance trendline.
In the next report, we will update on MCX Gold & Silver in-depth.
NCDEX Guar Gum Futures is close to March low. It will keep falling if that level breaks.
Targets: 4660 – 4500 – 4400
Note: position can be initiate after a breakout of March low.
Don’t miss out to read the previous agri-commodity trading alerts report: Free Jeera & Cotton Tips
As per the chart, MCX Gold will keep moving upward for 45500 to 46000 after a short reversal (43800 – 43500 levels).
Although COMEX Gold futures (CFD) need to breakout/close above to the last candle to continue the uptrend (for 1720 – 1740+ levels).
For a short period, we can expect 1650 – 1600 levels.
Remember, Never sell above 1691.7 level.