As we have rightly predicted in out last week report that Gold might bounce back till 20870 levels, it did that. Gold has pierced the 21200 lev-els , because of weak dollar and rising crude prices.
Commodity Snapshot - Gold: Technically speaking Gold prices are trading above the 5d EMA and breakout in its Ascending triangle also . But the MACD Histogram is showing an overbought condition. , and RSI has also touched its very strong resistance.
For the coming week , Monarch expects gold prices might fall down till 21200 levels with a very strong resistance at 21530.
As we have rightly predicted in out last week report that Gold might bounce back till 20870 levels, it did that. Gold has pierced the 21200 lev-els , because of weak dollar and rising crude prices.
For the coming week , Monarch expects gold prices might fall down till 21200 levels with a very strong resistance at 21530.
As we have rightly predicted in out last week report that Gold might bounce back till 20870 levels, it did that. Gold has pierced the 21200 lev-els , because of weak dollar and rising crude prices.
Commodity Snapshot - Silver: Technically speaking , the prices are trading above its 5d EMA , which is showing the strength . But all the major price indicators are showing an extreme overbought condition. . RSI is trading above 86 levels . MACD is also showing the negative divergence.
For the coming week Monarch expects silver prices to cool down till 59200 levels with a very strong resistance at 61200.
As we have mentioned in our last report that crude might fall till 4680 lev-els , but it didn’t go into that way.
For the coming week Monarch expects silver prices to cool down till 59200 levels with a very strong resistance at 61200.
As we have mentioned in our last report that crude might fall till 4680 lev-els , but it didn’t go into that way.
Commodity Snapshot - Crude Oil: Technically speaking prices are trading above its 5d EMA , which is showing the strength . From the chart we can notice that MACD is show-ing a negative divergence and OBV is also showing the same picture, which means volumes are not backing the rising price.
For the coming week Monarch expects crude prices to fall down till 4950-4880 lev-els with a very strong resistance at 5170 levels.
For the coming week Monarch expects crude prices to fall down till 4950-4880 lev-els with a very strong resistance at 5170 levels.
Commodity Snapshot - Silver: Silver prices are making higher highs , because of weak dollar. Technically speaking , RSI is trading above 92 levels , which consider as highly overbought condition. Commodity channel index is showing a negative divergence.
MACD is also in an highly overbought condition . But Silver is trading above the 5d EMA , which is the only matter of cautioun
For the coming week Monarch expect prices might bounce back till 70700 levels and after that Monarch expects a correction of 800 points i.e. till 69200 levels
MACD is also in an highly overbought condition . But Silver is trading above the 5d EMA , which is the only matter of cautioun
For the coming week Monarch expect prices might bounce back till 70700 levels and after that Monarch expects a correction of 800 points i.e. till 69200 levels
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