December 2020 Performance Update: Equity Cash - 74%  | Equity Future - 67,000 (Single lot first target) | Index Premium - 60,000 (Per 2 Lot basis) | Bullion - 53,000 (As per 2 mini lots) & 2,05,000 (As per 1 mega lot first target) | Base Metals - 76,000 (As per 1 mega lot first target) | Energy - 5,000 (As per 1 mega lot first target). For Package queries kindly call your RM or Call us on +91-7065111166
Home » Evening MCX Update – Bullion bounced back sharply from lower levels; Keep an eye on US Non Farm Payroll data.
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

Evening MCX Update – Bullion bounced back sharply from lower levels; Keep an eye on US Non Farm Payroll data.

Major MCX

 

Bullion and Other Major Commodities Evening Update

 

Today, traders should concentrate on Average Hourly Earnings, Non-Farm Employment Change, Unemployment Rate, along with Trade Balance data from the house of the US which will impact Base metals and Bullion. If the forecast figure match with the actual data then the possible impact as follows:

USD 7:00 PM Average Hourly Earnings m/m [{Previous (0.8%)} {Expected (0.3%)]. Forecast figure is negative for Base metals while positive for Bullions.

USD 7:00 PM Non-Farm Employment Change [{Previous (-140K)} {Expected (62K)]. Forecast figure is positive for Base metals while negative for Bullions.

USD 7:00 PM Unemployment Rate [{Previous (6.7%)} {Expected (6.7%)]. Forecast figure is neutral for Base metals and Bullions.

USD 7:00 PM Trade Balance [{Previous (-68.1B)} {Expected (-66.0B)]. Forecast figure is positive for Dollar

 

 

Technical Levels of Bullion and Other Major Commodities

 

 

Gold (April)

 

Gold has its support at 46800 and resistance at 47400–47700.

Break and sustain above 47250 will take it to 47400—47700++ levels or else it could test its support again.

Fresh selling we will do on a close below 46800 levels only

Trade safely with levels only and wait for confirmation.

 

 

 

Silver (March)

 

Silver has its support at 67800–67200 and resistance at 68400—68900.

Break and sustain above 68400 will take it to 68900++ levels or else it could test its support again.

Break and sustain below 67800 will take it to 67200 levels.

Trade safely with levels only and wait for confirmation.

 

 

Crude Oil (Feb)

 

Crude Oil has its support at 4080 and resistance at 4180.

Break and sustain above 4180 will take it to 4250++ levels or else it could test its support again.

Fresh selling will do on a close below 4080.

Trade with the levels only.

 

 

 

Natural Gas (Feb)

 

Natural gas has its support at 217 and resistance at 224—228.

Break and sustain above 224 will take it to 228++ levels or else it could test its support again.

Fresh selling will do on a close below 217.

Trade with the levels only.

 

 

 

Copper (Feb)

 

Copper has its support at 599—593 and resistance at 610.

Buy on dips with stop loss below 593 for the upside target of 610.

Trade with the levels only.

 

 

Traders can trade safely in Bullion and other commodities with given levels only. More levels will update in our weekly MCX blog post.

 

 

We are SEBI registered investment advisor. Above information is only for education / knowledge purpose. Kindly read disclaimer before trading / investing.

 

 

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