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MCX Silver Mar: Indicators are likely to provide pull back till the resistance of 38500 levels -
MCX Silver Mar: Indicators are likely to provide pull back till the resistance of 38500 levels
Way2wealth | Published: 22 Dec, 2017  | Source :

MCX ZINC DECEMBER: On Thursday, zinc prices opened at 205.55 and tumbled till the low of 205.10 and in the second half it reverted back and ended at 207 mark. As price is moving within the falling trend channel and the resistance is at 208.50. As long as it holds below that the trend remained downward. So, we expect the commodity will witness stiff resistance around 208 levels and thus we recommend selling around 207 for targets of 204 then 203. Action: Sell


MCX SILVER MARCH: On Thursday, silver prices remained sideways to bearish and ended at 37545. The price has penetrated the immediate trend line resistance and has settled above that. The momentum indicator stochastic making positive cross over is indicating bullish signs. Ahead, the above mentioned indicators are likely to provide pull back till the resistance of 38500 levels. Therefore, we continue to recommend buying around 37500 for above mentioned targets. Action: Buy

For last few sessions the castor prices have been trading on the downward note and on Thursday it declined till the trend line support of 4388 and reclaimed higher buy the end and settled at 4451. The price is moving within the triangle pattern. Ahead, it is likely to rebound from the supports and move higher towards the upper band resistance of 4600. Therefore, we recommend buying around 4450 for targets of 4550 then 4600 levels. Action: Buy

MCX MENTHA OIL DECEMBER: After opening at 1574 Mentha oil prices almost tested the previous low supports and rebounded sharply and ended at day high gaining 4%. Prices has formed double bottom and ahead it is likely to move towards the trend line resistance of 1720 then 1825 levels. Therefore, we recommend buying on dips around 1630 levels for above mentioned targets of 1720 and higher. Action: Buy

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.