MCX Gold June
Spot Gold prices lost some of the initial gains after touching important resistance of $1162 and ended at $1155 levels. Prices have taken short term trend line support of $1150 and currently trading well above the same. The immediate resistance is at $1162 then $1168. Intraday crucial support is at $1154, break of same may test $1150 then $1146.
MCX Copper April
After firm opening, copper prices ended on negative note. The April futures at MCX failed to breach short term trend line resistance at 355 and corrected to test 10 day EMA at 351.5. Immediate support is at 351.5 then 350.5, which is also major trend line support level. Breach of this support may turn weak in short term and expected to fall towards recent low of 347.5 levels.
MCX Crude oil Apr
Crude oil prices moved up sharply after breaching both 10 and 20 day EMAs. Prices have closed well above the three major EMAs, indicating short term bullish trend in the market. Immediate resistance is at 3830, break of same may test 3852 levels. Support is at 3765, 3735. For the day, we recommend to buy on dips.
