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Home » Bulls took charge on MCX division: Be cautious at upper levels as trading near to their resistance levels.
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

Bulls took charge on MCX division: Be cautious at upper levels as trading near to their resistance levels.

MCX Commodity

 

 

From the last few trading sessions, we recommended buying in the metal segment proven great. Our buy call of Gold and Silver skyrocketed while Copper too spurts from lower levels. Now, the metal segment is trading near to its resistance level and chances are bright for a correction from upper levels. The overall trend is positive but correction is a part of the market. Today, there is no major data and event, so traders can trade safely as per the levels given below.

 

 

Technical Levels of Major MCX Commodities

 

 

Gold

Gold has its support at 47800 and resistance at 48250.

Break and sustain above 48250 will take it to 48600—48750++ levels or else it could test its support again.

Fresh selling we will do below 47800 levels only.

 

Silver (March)

Silver has its support at 69800 and resistance at 70900.

Break and sustain above 70900 will take it to 71600—72400 and then to 74500++ levels in days to come or else it could test its support again.

Break and sustain below 69800 will take it to 69200—68500 levels.

Trade safely with levels only and wait for confirmation.

 

Crude oil (Feb)

Crude oil has its support at 4160 and resistance at 4280.

Break and sustain above 4280 will take it to 4400+++ levels else it could test its support level of 4160 again.,

More and more downside panic will see on a close below 4160 levels.

Trade with the levels only.

 

Natural Gas (Feb)

Natural gas has its support at 204—198 and resistance at 210.

Above 210… Target looks 214—217. More and more upside rally we will see on a close above 217 mark.

Fresh downside panic will see on a close below 198 levels only.

 

Copper (Feb)

 

Copper has its support at 618 and resistance at 627.

Break and sustain below 618 will take it to 615—612 levels or else it could test its resistance level of 627.

More and more upside rally will see on a close above 627 mark

Trade with the levels only.

 

 

 

We are a SEBI registered investment advisor. The above free information is for education/knowledge purposes. Read disclaimer on our website before investing.

 

 

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