Last week, Gold and Silver traded higher. In the last-to-last week analysis, we discussed that both could show higher levels in coming sessions. It happened.
MCX Gold has done Gann Price Time Squaring on Wednesday and has formed high around crucial Gann Square level. That suggests another exciting week ahead for bullion traders.
MCX Crude Oil also did the target of 4500. We are discussing this from the past 2-3 analysis that Oil is trading in a weaker spot.
Now MCX Crude Oil will enter a medium-term bearish zone on a weekly close below 4550 levels.
MCX Gold Weekly Gann Levels
Next week, 25 & 28 May, are the Gann reversal dates for MCX Gold.
Resistance is at 48650 levels; above that, Gold can move towards 48800/49050/49350/49850.
Support is at 48100 levels; below that, MCX Gold can move towards 47950/47700/47400/46900.
MCX Silver Weekly Gann Levels
Next week, 25 & 28 May, are the Gann reversal dates for MCX Silver.
Resistance is at 71700 levels; above that, Silver can move towards 71990/72500/73200/74500.
Support is at 70500 levels; below that, MCX Silver can move towards 70200/69700/69010/67710.
MCX Crude Oil Gann Weekly Levels
Next week, 24 & 28 May, are the Gann reversal datesfor Crude Oil.
Resistance is at 4690 levels; above that, Crude Oil can move towards 4740/4800/4870/4990.
Support is at 4610 levels; below that, MCX Crude Oil can move towards 4560/4500/4430/4310.
Note: The above levels are only for study. Not a Buy/Sell advice.
