Thursday 23 August 2018

Forex and Mcx Report : 23rd August 2018



MCX METALS AND ENERGIES MARKET VIEWS

Remain on the sidelines in gold and silver. Crude oil is bullish. Copper, zinc, lead and nickel can fall first and then rise.

TECHNICAL VIEW
Crude oil 19th September 18: (previous day close/CMP Rs.4763.00)
Bullish over 4760 with 4864 and 4916 as price target.
Bearish below 4715 with 4662 and 4571 price target.
Neutral Zone: 4715-4760
One Support: 4760
One Resistance: 4810
o      Crude oil can rise to 4965 and 5102 by 6th September as long as trades over 4571.
o      There will be another wave of rise over 4810.
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