Posted by : Niti Mathur
MCX Gold Trend
Gold futures indicated a quieted response to information indicating U.S. grossdomestic feature missed the point of economists' wants in the first three months of the year. Fates at first added to their increases, yet came back to levels perceived after the discharge of the information Friday. Benefit booking from larger amounts held costs under force and settled on more level note.
MCX Gold June fates contract is looking feeble on outline, day traders can offer on ascent Major backing is viewed in reach of 26750 , 26550 and 26420 While significant safety is viewed close 27050, 27180 and 27350 .
Crude Oil Updates
MCX Crude oil had taken uphold from the climbing movement line of the triangular example. An in number bull close on week after week diagrams has affirmed that the succumb to 5517 is as of recently finished. The present infrastructure recommends that shortterm bull movement has sound and further ascent is presently in favor towards 5190 then 5316 levels, which is 61.8% & 72.8% Fibonacci levels of the later fall. Nonetheless, some benefit taking is wanted in starting sessions of the advancing week, one can use to collect new aches at 5020 levels. Week after week RSI has given an upside hybrid; supporting the bullish view.