MCX Gold Silver Crude Oil Weekly Trading Strategy 17-21 May

Last week, after reaching high on Monday, Gold and Silver traded lower. Both precious metals are in consolidating phase.

MCX Crude Oil again traded in a range. Oil needs a weekly close above 4830 levels to get out of range.

On the lower side, the 4750-4740 range is crucial. A weekly close below the 4750-40 range can be the 01st sign of downside range breakout.

MCX Gold Weekly Gann Levels

Next week, 17 & 19 May, are the Gann reversal dates for MCX Gold.

Resistance is at 47850 levels; above that, Gold can move towards 47990/48250/48600/49100.

Support is at 47450 levels; below that, MCX Gold can move towards 47300/47050/46700/46200.


MCX Silver Weekly Gann Levels

Next week, 17 & 20 May, are the important Gann reversal dates for Silver.

Resistance is at 71500 levels; above that, Silver can move towards 71800/72200/72700/73500.

Support is at 70600 levels; below that, MCX Silver can move towards 70300/69900/69400/68600.

MCX Crude Oil Weekly Gann Levels

Next week, 17 & 20 April, are the crucial Gann reversal dates for Crude Oil.

Resistance is at 4850 levels; above that, Crude Oil can move towards 4900/4960/5040/5160.

Support is at 4690 levels; below that, MCX Crude Oil can move towards 4640/4580/4500/4390.

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.