Last week Gold and Silver traded lower. Both didn’t break the Gann resistance levels discussed in earlier week’s report.
Next week, the 46700 is a crucial level for MCX Gold below that it can revisit 46300/45900 levels. On the higher 47100 and 47600 are the important Gann resistance levels.
MCX Silver is in crucial position. Next week, if Silver breaks and sustains below the 62900-800 zone, it can hit 62000/61000/59500 levels. On the higher 63950-64100 is the resistance zone.
Last week, the 5140 Gann level worked great in Crude Oil. Many times during the week, Crude made high near 5140 and fell over 100 points.
Next week, the 5150 levels will play an important role for MCX Crude Oil bulls. If Oil breaks and sustains above the 5150, it can hit 5190/5250/5320 levels. Else, a pullback towards 5080/5020/4970 levels can happen.
MCX Gold Weekly Levels
Next week, 13 & 16 September, are Gann reversal dates for MCX Gold.
Resistance is at 47100 levels; above that, Gold can move towards 47300/47600/49990.
Support is at 46700 levels; below that, MCX Gold can move towards 46500/46200/45800.
MCX Silver Weekly Levels
Next week, 13 & 17 September, are the Gann reversal dates for Silver.
Resistance is at 64100 levels; above that, Silver can move towards 64600/65200/65900/66700.
Support is at 62900 levels; below that, MCX Silver can move towards 62400/61800/61100/60300.
MCX Crude Oil Weekly Levels
Next week, 14 & 16 September, are the Gann reversal dates for Crude Oil.
Resistance is at 5150 levels; above that, MCX Crude Oil can move towards 5190/5240/5300/5370.
Support is at 5060 levels; below that, Crude Oil can move towards 5020/4970/4910/4840.
Note: The above levels are only for study. Not a Buy/Sell advice.