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Home » Base metals are on the fire mode as Nickel and Copper up by almost 4% along with other metals. Major MCX Commodity update.
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

Base metals are on the fire mode as Nickel and Copper up by almost 4% along with other metals. Major MCX Commodity update.

Base Metals

 

Base metals are on the fire mode as Nickel and Copper up by almost 4% along with other metals amid China’s Caixin manufacturing purchasing managers’ index (PMI) at 50.6 showed slower growth in March, compared with 50.9 in February, and it was below the 51.3 expected.

Today, traders should concentrate on Trade Balance along with Crude Oil Inventories from the house of the US which will impact Base metals and Bullions. If the forecast figure match with the actual data then the possible impact as follows:

USD 6:00 PM Trade Balance [{Previous (-68.2B)} {Expected (-70.2B)]. Forecast figure is negative for base metals while positive for Bullions.

USD 8:00 PM Crude Oil Inventories [{Previous (-0.9M)} {Expected (-2.0M)]. Forecast figure is positive for Crude oil prices.

 

 

Technical Levels of Base Metals and other Major Commodities 

 

 

Gold (June)

Gold has its support at 46000 and resistance at 46600.

Break and sustain above 46600 will take it to 47200—47500 levels or else it could test its support again.

Fresh selling will do below 46000.

Trade with the levels only.

 

Silver (May)

Silver has its support at 65900 and resistance at 66500.

Break and sustain above 66500 will take it to 67200—67500 or else it could test its support again.

Fresh selling will do on a close below 65900.

Trade with the levels only.

 

Crude oil (April)

Crude oil has its support at 4350 and resistance at 4480.

Break and sustain above 4480 will take it to 4540. More and more upside will do on a close above 4540 till 4650—4700 or else it could test its support again.

Fresh selling will do on a close below 4350.

Trade with the levels only.

 

Natural Gas (April)

Natural gas has its support at 180 and resistance at 186.

Break and sustain above 186 will take it to 192—196 or else it could test its support again.

Fresh selling will do on a close below 180.

Trade with the levels only.

 

Copper (April)

Copper has its support at 685 and resistance at 695.

Break and sustain above 695 will take it to 700. More and more upside will do on a close above 700 till 705—710 or else it could test its support again.

Fresh selling will do on a close below 685.

Trade with the levels only.

 

 

Commodity Update on WhatsApp

 

 

 

Above FREE Information is only for knowledge and education purposes. Kindly read disclaimer on our website before trading / investing.

 

 

 

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