MCX GOLD DEC: Gold prices opened slightly higher in the last session and prices recovered gradually for the whole session. Prices have bounced in the previous two sessions after taking strong support at its declining trend line of the falling trend channel and also at 50% Fibonacci retracement of its rally from low of 27603 till high of 30474, which is placed around 29038 level. Prices are expected to rise further from these levels towards immediate resistance placed around its declining trend line currently near 29600 level. Action: Buy
MCX SILVER DEC: Silver prices opened slightly lower in the last session and prices consolidated for the whole session in the range of 39600-40000 levels. Prices have broken out from its descending triangle chart pattern in the previous session and 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. On the lower side immediate supports are placed around 39600 and 39100 levels. Action: Buy
MCX NATURAL GAS NOV: Natural Gas prices opened slightly higher in the last session and prices rose for first half of the session till high of 205.30. Later prices corrected slightly and traded in a narrow range for the remaining session. Prices have broken out from its last five month’s range after recovering from its multiple bottoms made around 185 level in the previous few weeks. Prices are expected to rise further from these levels towards next resistance placed around 215.30 level.. Action: Buy
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MCX LEAD NOV: Lead prices opened slightly lower in the last session and prices consolidated for the whole session in the range of 161-163 levels. Prices have been rising gradually since last few sessions and broken out from its falling trend channel pattern in the previous session. Prices are expected to continue this up move towards next strong resistances placed around 167 and 171 levels. On the lower side immediate supports are placed around 161 and 158 levels. Action: Buy
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