Last week, Gold and Silver traded higher and later fell over 1000 after taking the resistance near Gann Price Time levels.
The 48400-48550 range is vital for Gold bulls. Holding below that will add more weakness in precious metals.
MCX Crude Oil has made the base between the 4500-4550 range. Till Oil doesn’t break that support range on a weekly closing basis; the bulls will have the edge.
MCX Gold Weekly Gann Levels
Next week, 01 & 04 June, are the Gann reversal dates for MCX Gold.
Resistance is at 48700 levels; above that, Gold can move towards 48900/49200/49600/50200.
Support is at 48300 levels; below that, MCX Gold can move towards 48100/47800/47400/46800.
MCX Silver Weekly Gann Levels
Next week, 01 & 03 June, are the Gann reversal dates for MCX Silver.
Resistance is at 72100 levels; above that, Silver can move towards 72400/72800/73400/74600.
Support is at 71200 levels; below that, MCX Silver can move towards 70900/70500/69900/68700.
MCX Crude Oil Weekly Gann Levels
Next week, 31 May & 04 June, are the critical Gann reversal dates for MCX Crude Oil.
Resistance is at 4910 levels; above that, Crude Oil can move towards 4960/5020/5099/5230.
Support is at 4799 levels; below that, MCX Crude Oil can move towards 4750/4690/4610/4480.
Note: The above levels are only for study. Not a Buy/Sell advice.