MCX Gold Silver Crude Oil Weekly Analysis 05-09 July

Last week Gold Silver traded in a range with a positive bias. The positive trend can continue next week too.

Price action suggests bulls have a solid grip in both Gold and Silver. And soon, both precious metals can show higher levels in the coming days.

Crude Oil levels worked fine last week. Next week 5540-5530 price zone will play an important role. On the upside, the 5723-5750 price zone is decisive—the resistance coming from larger time frames.

Gold Weekly Gann Levels

Next week, 07 & 09 July, are Gann reversal dates for MCX Gold.

Resistance is at 47450 levels; above that, Gold can move towards 47600/47900/48400.

Support is at 47010 levels; below that, MCX Gold can move towards 46850/46550/46050.

Silver Weekly Gann Levels

Next week, 05 & 07 July, are the Gann reversal dates for MCX Silver.

Resistance is at 69500 levels; above that, SilverSilver can move towards 69900/70600/71500.

Support is at 68300 levels; below that, MCX Silver can move towards 67900/67300/66400.

Crude Oil Weekly Gann Levels

Next week, 07 & 09 July, Gann reversal dates for Crude Oil.

Resistance is at 5650 levels; above that, Crude Oil can move towards 5700/5760/5830.

Support is at 5530 levels; below that, MCX Crude Oil can move towards 5480/5420/5340.

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

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.