MCX October Gold – We saw the short covering rally on Friday and it is likely to continue till 11676 levels which is a trend reversal level. A close above this level is required to reverse the current downtrend.
Trend – DownNext
Targets – NeutralTrend
Reversal – 11676Support – 11378, 11293, 11171
Resistance – 11542, 11676, 11790
MCX December Silver – We should see more short covering in the coming days only to find resistance at the trend reversal level of 18782. A close above this level will reverse the current downtrend.
Short Term Trend – Down
Next Target – Neutral
Trend Reversal – 18782
Support – 18040, 17925, 11752
Resistance – 18256, 18487, 18782
MCX November Copper – Posted a trend reversal. More upside likely if the prices manages to close above 328. Conservative traders are recommended to trade above 328.
Short Term Trend – Up
Next Target – 340
Trend Reversal – 305
Support – 323, 317, 310
Resistance – 328, 332, 338
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