The MCX Silver May futures moved higher for the second straight day after seeking support around the lower-end of the Bollinger Band. On Friday, the precious white metal tested a high at Rs 35,636, before closing with a gain of 0.6 per cent (Rs 208) at Rs 35,533 on account of bargain hunting.
MCX Silver prices are fairly above the lower-end of the Bollinger Band (Rs 35,270). Hence, the bias is likely to remain positive as long as prices trade above Rs 35,270-odd level.
Further gain in Silver futures may take prices towards the 20-DMA at Rs 36,170-odd level on the daily charts.
The MCX Gold April future is trading on a negative note following the NYMEX Gold futures.
The bullion future started the day in negative zone at Rs 25,875 - down Rs 15.
The precious yellow metal has touched a low at Rs 25,860 and a high at Rs 25,900.
Now, Gold price in India is trading on a soft note at Rs 25,877.
The MCX Natural Gas March futures on Friday faced resistance at the 20-DMA at Rs 174.50, before settling with a gain of almost a per cent at Rs 173.50, due to weakness in India rupee against the US dollar.
The MCX March Crude Oil futures extended losses for the fourth straight day and gave a fresh break out below the key psychological support the lower-end of the Bollinger Band on the daily charts, owing to step fall in NYMEX Crude Oil prices.
MCX Crude Oil prices tested a low of Rs 2,846, before signing off the day with a significant loss of almost 4 per cent (Rs 116) at Rs 2,866.
MCX Silver prices are fairly above the lower-end of the Bollinger Band (Rs 35,270). Hence, the bias is likely to remain positive as long as prices trade above Rs 35,270-odd level.
Further gain in Silver futures may take prices towards the 20-DMA at Rs 36,170-odd level on the daily charts.
The MCX Gold April future is trading on a negative note following the NYMEX Gold futures.
The bullion future started the day in negative zone at Rs 25,875 - down Rs 15.
The precious yellow metal has touched a low at Rs 25,860 and a high at Rs 25,900.
Now, Gold price in India is trading on a soft note at Rs 25,877.
The MCX Natural Gas March futures on Friday faced resistance at the 20-DMA at Rs 174.50, before settling with a gain of almost a per cent at Rs 173.50, due to weakness in India rupee against the US dollar.
The MCX March Crude Oil futures extended losses for the fourth straight day and gave a fresh break out below the key psychological support the lower-end of the Bollinger Band on the daily charts, owing to step fall in NYMEX Crude Oil prices.
MCX Crude Oil prices tested a low of Rs 2,846, before signing off the day with a significant loss of almost 4 per cent (Rs 116) at Rs 2,866.
Free Commodity Tips , commodity tips , commodity trading tips , mcx advisory indore , mcx crude oil tips
No comments:
Post a Comment