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MCX Gold Silver Crude Oil Weekly Analysis 09-13 Aug

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Updated On:

Last week, Gold and Silver completed the bearish view, which we discussed in the past weekly reports.

Silver is trading near important Gann Price and Time levels. It can trigger a relief rally. But Gold still showing weakness, and below 46300, it can fall more.

Crude Oil last week dropped over 350 points below 5400, the important Gann level. The MCX Crude Oil range is 5250-4990. Either side breakout will decide the trend of the coming week.

MCX Gold Weekly Levels

Next week, 09 & 11 August, are Gann reversal dates for MCX Gold.

Resistance is at 46800 levels; above that, Gold can move towards 47100/47500/48050.

Support is at 46300 levels; below that, MCX Gold can move towards 45950/45400/44900.

MCX Silver Weekly Levels

Next week, 09 & 12 August, are the Gann reversal dates for MCX Silver.

Resistance is at 65600 levels; above that, SilverSilver can move towards 66100/66700/67400.

Support is at 64600 levels; below that, MCX Silver can move towards 64100/63500/62800.

MCX Crude Oil Weekly Levels

Next week, 09 & 11 August, Gann reversal dates for Crude Oil.

Resistance is at 5150 levels; above that, Crude Oil can move towards 5200/5260/5350.

Support is at 5020 levels; below that, MCX Crude Oil can move towards 4970/4910/4820.

Note: The above levels are only for study. Not a Buy/Sell advice.

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About the Author

Divesh Jotwani is a Full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day in and out markets.