MCX GOLD DEC: Gold prices opened slightly higher in the last session and prices corrected initially till low of 29420. Prices rose strongly for the remaining session and touched strong resistance of its declining trend line of the falling trend channel. Prices are expected to rise further from these levels if break above its immediate resistance placed around 29600 level towards next resistance placed around its previous swing high of 29955 level. Action: Buy
MCX SILVER DEC: Silver prices opened higher with gap in the last session and prices consolidated for first half of the session in the range of 39600-39900 levels. Later prices rose strongly for the remaining session and closed above its declining trend line of descending triangle chart pattern. Prices are expected to rise further from these levels towards next resistance placed at its previous swing high around 40600 level and further around 41900 level. Action: Buy
MCX ALUMINIUM NOV: Aluminium prices corrected sharply in the last session after prices made a double top chart pattern in the previous week around 142.70 level. Prices have given a breakdown from its neckline of the pattern placed at 137.55 level. Prices are expected to correct further from these levels towards pattern’s target placed at 132.40 level. On the higher side immediate resistances are placed around 137.50 and 139.10 levels. Action: Sell
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MCX LEAD NOV: Lead prices opened slightly lower in the last session and prices corrected initially till low of 161.30 level. Prices rose strongly for the remaining session and made a high of 164.35. Prices have been rising since last few sessions after breaking out from its falling trend channel pattern and are expected to continue this rally towards next resistances placed around 167 and 171 levels. On the lower side immediate supports are placed around 163 and 161 levels. Action: Buy
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