Last week Gold and Silver traded higher. Gold almost did the target of 47800 (the high was 47731). MCX Silver rallied over 3% and did the high around the discussed resistance zone (63600-800).
Next week, the 47600-800 zone will play a crucial for MCX Gold. If Gold sustains above that zone, it can rally towards 48300/48600 levels.
MCX Silver has jumped strongly from the lower levels. Despite that, it is below the 63600-800 resistance zone. Next week, if Silver breaks and sustains above 63600-800 zone, it can rally towards 64800/66000 levels.
Last week, above the weekly resistance level (4680), MCX Crude Oil jumped over 400 points on the upside.
The 5090-5135 range will play an important role for Crude Oil bulls in the coming week. If Oil breaks and sustains above the 5090-5135 range, it can rally more. Else, a pullback towards 4990/4930/4850 levels can happen.
MCX Gold Weekly Levels
Next week, 30 August & 03 September, are Gann reversal dates for MCX Gold.
Resistance is at 47750 levels; above that, Gold can move towards 47900/48200/48800.
Support is at 47300 levels; below that, MCX Gold can move towards 47150/46850/46250.
MCX Silver Weekly Levels
Next week, 30 August & 01 September, are the Gann reversal dates for MCX Silver.
Resistance is at 63800 levels; above that, Silver can move towards 64200/64700/65300.
Support is at 62800 levels; below that, MCX Silver can move towards 62400/61900/61300.
MCX Crude Oil Weekly Levels
Next week, 30 August & 01 September, Gann reversal dates for Crude Oil.
Resistance is at 5090 levels; above that, Crude Oil can move towards 5130/5180/5240.
Support is at 5020 levels; below that, MCX Crude Oil can move towards 4980/4930/4870.
Note: The above levels are only for study. Not a Buy/Sell advice.
