MCX DEC expiry future - continues weakness

MCX gold dec expiry future today on muhurat trading session closed in red on profit booking and weak global sentiments. As dollar index, inching up comex gold may remain under pressure. For tomorrow 31800-31850 remain strong resistance and gold future heading towards 31500-31400.weak rupee may support domestic gold prices but sharp fall in comex gold is real concern.

MCX silver DEC expiry future today closed at 60710 with almost half percent loss. For tomorrow 60500 is support now if breaks below that expect shape correction. As us, market slipping down after coming down below 200 DMA that will support dollar index and bad for all commodities expect natural gas. For tomorrow if open below 60500 then expect 400-600 points downside rally. 

MCX aluminums Nov future closed at 107.65 with half percent loss. On chart, aluminums just made top of 108.2 and that will remain strong resistance. Also showing correction from overbought zone as expected. For tomorrow expecting 107 and below!stronger dollar index may trigger selling in base metals so watch for that.in worst conditions aluminium may fall upto 104 again.

MCX copper Nov expiry future closed at 418.7 with loss. Now copper once again failed to breakout and there is no follow up buying. For tomorrow below 422 stay short and expect 414-413 again.

MCX lead Nov future today closed at 118.65 with loss over 1%.today with gap down opening lead remain weak in mahurat trading. On chart look like in sell mode with resistance of 119.8, while on downside 117 –115 are supports and targets now.

MCX nickel Nov future today closed at 881.9 with loss of nearly half percent. Look like losing momentum on no demand. For tomorrow 878 is important support if slips below that expect 865-860 again.

Mcx zinc future also closed with red and at 104.15.today after gap down opening lost yesterday are gains almost. For tomorrow below 105.2 remain selling and expect 103-102.5 as target levels. Mcx crude oil Nov future today closed with losses at 4684. 

As expected continues weakness, on downside we looking forward for targets of 4650-4600 again while on upside resistance now moved to 4758. US market below 200 dma may hit crude oil and may show historic lows on panic. Waiting for that! Mcx natural gas Nov future today given sharp short covering. Buy was triggered at 193 and now we at 203.8 with gains of nearly 4%.for tomorrow expecting follow up buying and short covering’s major indices turning down below 200 dma we see sharp rallies in natural gas and long term our target of 350 still in place!!For tomorrow expecting 208-210 again!