Buy MCX Gold above Rs 29900: Way2Wealth

MCX Gold prices are hovering around the neckline support. Prices can reverse their direction from current levels and retest the previous swing high. Long positions can be initiated above 29900 for the upside targets of 30300 levels.

MCX Natural Gas, in past week tested the valid downward sloping trendline resistance. And closed with a shooting star candlestick pattern. This signifies some correction in the counter from current levels.

MCX Nickel has completed the bearish head and shoulders chart pattern, on the weekly chart. The neckline support slope is around 885 levels. Short positions can be initiated below 910.

MCX Zinc July - Symmetrical triangle chart pattern is under making on the continuous weekly chart. Prices are trading in the narrow band of 101 107 with negative bias. Some correction is expected in the upcoming sessions.

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