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Published on 17/04/2018 11:36:02 AM | Source: Choice Broking Pvt Ltd

NCDEX Soya oil prices closed flat on Monday - Choice Broking

Posted in Commodities Reports| #Commodity Tips #Choice Broking

Gold

MCX Gold futures traded up Monday, as the dollar fell, but gains were muted as financial markets bet that air strikes on Syria would not escalate into a wider conflict. Moreover, price has taken middle Bollinger band support a at 30950. which indicate a reversal move in the prices. In addition, A momentum indicator RSI (14) and MACD has shown positive crossover on Daily chart. which intimate positive sentiment in the prices. Therefore, we expect bullish movement in the gold towards 31400.

Silver

MCX Silver price closed up on Monday. On a daily Chart, MCX Silver has taken support of Ichimoku cloud; which indicate a reversal move in the prices. Moreover, price has taken support of 21days SMA on the daily chart which suggests a positive momentum in the price for the short term. In addition, A momentum indicator RSI (14) and MACD has shown positive crossover on Daily chart. Therefore, we expect bullish movement in silver towards 39800.

Copper

MCX Copper prices closed up on Monday after customs data showed imports of raw materials by China improved during the first quarter. Moreover, Copper price has taken middle Bollinger band support at 439 and rebound from this level; which indicate a further bullishness in price Furthermore, In addition, price has sustained above 21 days SMA ; which intimate medium term trend remains bullish. So, we expect bearish movement in copper towards 438.

Lead

MCX Lead prices closed up on Monday. On the daily chart price trading below “Ichimoku cloud”; which indicate a further bearishness in price , Moreover, price has stabled below 100 DEMA, which act as resistance zone. In addition, A momentum indicator RSI (14) and MACD has shown negative crossover on daily chart. Therefore, based on the above technical picture we recommend bearish trend in MCX Lead .

Crude Oil

MCX prices flat on Monday as investor concern waned about escalating tensions in the Middle East following air strikes on Syria over the weekend. On the other hand, price has given “ascending trendline "breakout and has taken trend line support, which indicate positive strength in the prices In addition, A momentum indicator RSI (14) and MACD has shown positive crossover on Daily chart. So based on the above analysis we expect bullish rally in the price for upcoming day.

Natural Gas

On the 4 hour chart, price has given “symmetrical pattern” upside breakout and trading above “Ichimoku cloud”; which indicate a further bullishness in price . In addition, price has sustained above 21 days SMA ; which intimate medium term trend remains bullishness .Furthermore, A momentum indicator RSI (14) and MACD are a witness of upward trend with positive crossover. So based on the above technical studies, we expect bullish move in MCX prices.

Guar gum

NCDEX Guar gum prices closed flat on Monday. Moreover, Positive divergence is seen in the daily RSI as the momentum indicator made higher lows against lower through in prices. Moreover, price has sustained above 200 days SMA ; which intimate medium term trend remains bullishness on the chart; so based on the above technical structure, we expect bullishness in NCDEX Guar gum for upcoming days.

Soya oil

NCDEX Soya oil prices closed flat on Monday. Soya oil prices has taken support of 200 day SMA which indicate bullishness in the price. In addition, Price has also found the support at lower Bollinger Band formation and shifted in to positive zone after along correction on the daily chart. So based on the above technical structure, we expect bullish move in NCDEX Soya oil for upcoming days.

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