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Home » Evening MCX Update – Bullion trading in a strict range. All eyes are on Prelim Data in evening at 06:00 PM
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

Evening MCX Update – Bullion trading in a strict range. All eyes are on Prelim Data in evening at 06:00 PM

Bullion

 

 

 

Here is today’s evening session major support and resistance of all commodities.

 

 

Since morning we are seeing a range-bound momentum in the Bullion segment. While base metals have a significant drop from opening levels and in the noon, we have seen U-turn in that. Energy segment too showing sideways move. Now, let’s see have a look at major support and resistance for the evening session.

 

Today’s Evening Major US Data Update

06:00 PM – Prelim GDP Data
06:00 PM – Unemployment Claims
06:00 PM – Prelim GDP Price Index
08:00 PM – Natural Gas Storage

 

Gold

 

Gold has support at 47000 and resistance at 47300. Sustained above 47300 can see the upside move towards 47500…47700 and if it breaks and sustain below 47000 will see the more downside towards 46800…46600.

 

Silver

 

Silver has support at 62800 and resistance at 63500. Sustainable trade below 62800 will see the good downside move towards 62400—62000 levels and if it sustains above 63500 will catch the upside move towards 63900…64400.

 

Copper

 

Copper has support at 710 and resistance at 716.50. Sustainable trade below 710 can move towards 705…701 levels and if sustains above 716.50 can see the upside move again towards 722/727.

 

Lead

 

Lead has support at 176.50 and resistance at 179.50. More downsides can see if it breaches the level of 176.50 and sustainable trade above 179.50 will see the good upside move towards 182…184.

 

Zinc

 

Zinc has support at 243.50 and resistance at 248.50. Sustainable trade below 243.50 will see the downside move towards 242…240 and if it sustains above 248.50 will catch the upside move again towards 251…253.

 

Nickel

 

Nickel has support at 1410 and resistance at 1440. Break and sustain below 1410 will take it to 1390 —1375 levels and if it sustains above 1440 can see further upside towards 1460…1470 level.

 

Natural Gas

 

Natural gas has support at 285 and resistance at 295. Sustainable trade below 285 will see the downside move towards 280—275 and if it breaks and sustain above 295 can see the upside move towards 300…304.

 

Crude Oil

 

Crude oil has support at 5000 and resistance at 5075. Break and sustain below 5000 can move towards 4960…4920 and sustainable trade above 5075 again can move towards 5120…5140.

 

 

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