29/11/2019

Updates on Bullion, Metals, and Energy Levels 29th Nov 2019

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Gold inched up on Friday as the equity market dipped amidst uncertainties regarding the US and China trade deal. On the other hand, Crude oil traded sideways as the U.S. Thanksgiving holiday limiting the movement of Crude oil, while investors are keeping an eye on a meeting of OPEC and its allies next week that may result in the extension of an output cut agreement to support the market.


No Major Economic data for the Day.


Technical Levels

Gold (Feb)

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Support at 37600 and Resistance at 37900.

Break and close above 37900 will take it to 38200—38400 or else it could touch its support again.

Fresh selling will do on a close below 37600.

Trade with the levels only.



Silver (Mar)

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Support is at 44750 and resistance is at 45000.

Break and sustain above 45000 will take it to 45300—45500 or else it could test its support again.

Fresh selling will do on a close below 44700.

Trade with the levels only.



Crude Oil (Dec)

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Support at 4100 and Resistance at 4230.

Trading in a big range with volatility. One can sell around close to the resistance level and buy around close to the support level or wait for the confirmation.  



Natural Gas (Dec)

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Support at 176 and resistance at 184.

Trade within the range and wait for the confirmation.



Copper (Dec)

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Support at 432 and Resistance at 435.50

Break and close above 435.50 will take it to 438--440 or else it could test its support again.

Fresh selling will do on a close below 432.

Trade with the levels only.


Lead (Dec)

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Lead has its support at 153 and resistance 155.

Break and close above 155 will take it to 157—158 or else it could test its support again.

Fresh selling will do on a close below 153.

Trade with the levels only.



Our Top Pick of the Day... (29th Nov 2019)

Sell Nickel on the rise around 1022—1023 for the downside target of 1015—1010 with keeping stop loss above 1030.




More will update soon...





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Tags:Gold & Silver, Basemetal, Crude & Natural Gas, Full MCX

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