Free MCX Tips | Brent Crude Near $ 76.5 And Weakness In Gold

According to the Free MCX Tips Expert Team,  US has asked oil buyers to stop imports from Iran. The US has asked Iran to stop importing oil after November 4. So, on Tuesday, there was strong bounce in crude. At present, WTI Crude is trading at $ 70.7 with an increase of 0.25% on NYMax. Brent Crude is trading 0.2 percent up at $ 76.5.

However, there is a decline in gold prices. Gold is trading at $ 1,256.5 with a drop of 0.25 percent on the commerce. Silver is also seen weakness. On the commerce, silver is trading 0.25 percent lower at $ 16.3.

Rudra Investment Free MCX Tips

   

Gold MCX (August futures)	Sell - 30650	Stop loss - 30800	Target - 30450
Crude oil MCX (July futures)	Buy - 4780	Stop loss - 4700	Target - 4880

 

Weekly Best MCX Tips And Research Report Rudra Investment

Weekly MCX Research Report [4/6/18  - 8/6/18]

BULLIONS WEEKLY TECHNICAL LEVELS

GOLD(AUG) MCX WEEKLY CHART

WEEKLY PIVOT S1 30357 S2 30405 PP 31126 R1 31378 R2 31847

TECHNICAL/FUNDAMENTAL VIEW – Best MCX Tips | Gold Market continue to show signs of support underneath at the uptrend line for the third week in a row. I think that the market is probably going to continue to go higher, especially if the US dollar falls over the next couple of weeks, which looks like it could happen against many of the world’s major currencies based upon the weekly chart. That being said, we could see a bit of volatility, but I think we could also get a bit of bullish pressure due to geopolitical concerns, or perhaps a falling US dollar. I think there’s a couple of different scenarios that could help this market, but if we were to break down below the $1275 level, we could break down to the $1250 level.I think that if we do continue to rally from here, we

will probably target the $1350 level above which has been massive resistance extending to the $1360 level. I think the Gold markets haven’t changed much when you look at it through the prism of a longer-term chart, despite the fact that it has been rather difficult over the last couple of weeks. If we break down, it’s hard to tell what would cause it, but certainly it looks as if the buyers are willing to make a stand in this general vicinity, so I think that likelihood of this market going higher is much stronger than breaking down as the uptrend line goes all the way back to the end of 2016.

BULLIONS WEEKLY TECHNICAL LEVELS

SILVER( JULY) MCX WEEKLY CHART

WEEKLY PIVOT S1 39514 S2 39492 PP 39867 R1 39889 R2 40242

TECHNICAL/FUNDAMENTAL VIEW – Best MCX Tips | The Silver markets went back and forth during the week, forming a bit of a hammer, and quite frankly it looks likely that the market will continue to try to build up a bit of momentum, but clearly we are nowhere near it right now. I think that the market will eventually go towards the $20 level, an area that I think is massive for the longer- term, and I think that it will take a lot of work to break above there. I think building a longer-term and physical position might be the best way to go going forward, because eventually I think that  if we can break above the $20 handle, we are likely to go to the $50 level.That isn’t ready to happen anytime soon, so I think longer-term investors are using this as an opportunity to build up

massive positions. I have no idea when it happens, but it’s obvious to me that we can break down significantly. By taking the leverage out of the equation, you should have the ability to build up a big position. I think the $15 level underneath is the massive floor in the market that we need, and therefore if we can stay above that level I think it’s only a matter of time before the longer-term uptrend comes into play. I recognize that every $0.50 or so there is a certain amount of support and resistance, so use these levels as guideposts going forward. I do like the idea of adding to my position every time we pull back currently.

ENERGY WEEKLY TECHNICAL LEVELS

CRUDE(JUNE) MCX WEEKLY CHART

WEEKLY PIVOT S1 4354 S2 4280 PP 4490 R1 4564 R2 4700

TECHNICAL/FUNDAMENTAL VIEW – Best MCX Tips | Initially try to rally during the week but turned around near the $69 level. By rolling over the way we have, the market has gone down to the $66 level. There is a major uptrend line just below, so I think at this point  if we can break down  below the $65 level, that would be a smashing of major support. If we can break down below there, the market probably goes down to the $60 level next. The alternate scenario of course is that if we break above the top of the candle for the week, then we could go to the $70 level after that. That being said, it does look like we are starting to struggle a bit, and the previous weekly

candle certainly looks negative.

Brent markets were wild during the week, rallying and reaching towards the $80 level. However, we found enough resistance near the $79 level to turn around and form a massive shooting star. The shooting star sits on the $75 level, an area that has previously been resistance, and it should now be supported. If we can break down below the bottom of the candle for the week, I think we go looking towards the uptrend line underneath as although we are in a very bullish uptrend, we have had a shooting star at the $80 level, at very negative candle after that, and now another shooting star, which to me suggests that we are going to continue to struggle to gain from here.