Welcome to Indian Market View. To get real time FREE market updates on your WhatsApp, click on the WhatsApp icon on website and fill your details.
Home » Evening MCX Update – Crude oil recovered after yesterday’s blood bath session amid the strong US and China’s economic data.
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

Evening MCX Update – Crude oil recovered after yesterday’s blood bath session amid the strong US and China’s economic data.

Crude Oil

 

Crude oil crashed vertically in the previous day’s session to level 4244 where it failed to break its support level of 4200 and bounced back sharply supported by continuous positive economic data from China and the US. On the other hand, Base metals trading in the positive zone too.

Today, traders should concentrate on JOLTS Job Openings 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 7:30 PM JOLTS Job Openings [{Previous (6.92M)} {Expected (6.91M)]. Forecast figure is neutral for base metals and Bullions.

 

 

Technical Levels of Crude Oil and other Major Commodities

 

 

Gold (June)

Gold has its support at 45400 and resistance at 45700.

Break and sustain above 45700 will take it to 46000—46200 or else it could test its support again.

Fresh selling will do on a close below 45400.

Trade with the levels only.

 

Silver (May)

Silver has its support at 64900 and resistance at 65750.

Break and sustain above 65750 will take it to 66600—67000 or else it could test its support again.

Fresh selling will do on a close below 64900.

Trade with the levels only.

 

Crude oil (April)

Crude oil has its support at 4320 and resistance at 4450.

Break and sustain above 4450 will take it to 4530—4550 or else it could test its support again.

Fresh selling will do on a close below 4320.

Trade with the levels only.

 

Natural Gas (April)

Natural gas has its support at 184.50 and resistance at 192.

Break and sustain above 192 will take it to 198—200 or else it could test its support again.

Fresh selling will do on a close below 184.50.

Trade with the levels only.

 

Copper (April)

Copper has its support at 682 and resistance at 686.

Break and sustain above 686 will take it to 690—694 or else it could test its support again.

Fresh selling will do on a close below 682.

Trade with the levels only.

 

 

Commodity Update on WhatsApp

 

 

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

 

 

Tags

Short Term Monthly Investment Picks for April 2021

Short Term Monthly Investment Pick

Stock Portfolio for Year 2021

Stock Portfolio for 2021

Get FREE Market Updates!

Stock Market WhatsApp Broadcast
Read in your native language.
Open chat
Get Market Updates on your WhatsApp