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Home » Evening MCX Update – Technical support & resistance levels of Major MCX Commodities.
Commodity Levels for the day Full Mcx

Evening MCX Update – Technical support & resistance levels of Major MCX Commodities.

full mcx commodity levels

Evening MCX Levels

 

Today, traders should concentrate on core Retail Sales m/m, Retail Sales m/m, CPI m/m data. Automobile sales account for about 20% of Retail Sales but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends.

According to advanced prints for natural gas markets from CME Group, open interest increased for yet another session on Tuesday, now by 824 contracts. Volume followed suit and went up markedly by 357K contracts.

Core Retail Sales m/m,Retail Sales m/m,CPI m/m

 07 PM : Core Retail Sales m/m [{Previous (-1.4%)} {Expected (1.1%)]. The forecast figure is positive for base metals while negative for bullions.

 07 PM: Retail Sales m/m[{Previous (-07%)} {Expected (1.1%)]. The forecast figure is positive for bullions while negative for base metals.

 

 

Technical Levels of Major MCX Commodities

 

Gold (April)

 

MCX Gold has its support at 46400 and resistance at 46850.

Break and sustain below 46400 will take it to 45700 levels or else it could test its resistance again.

Fresh buying will do on a close above 46850.

Trade safely with levels only and wait for confirmation.

 

 

 

Silver (March)

 

Silver has its support at 68350 and resistance at 70000.

Break and sustain below 68350 will take it to 67300—66500 levels or else it could test its resistance again.

Fresh buying will do on a close above 70000 levels only

 

 

Crude Oil (Feb)

 

Crude oil has its support at 4325 and resistance at 4425.

Break and sustain above 4425 will take it to 4490—4550 levels or else it could test its support again.

Fresh selling will do on a close below 4325.

 

 

 

Natural Gas (Feb)

 

Natural gas has its support at 219 and resistance at 235

Above 235… target looks 244. More and upside rally we will we see on close above 244 mark

Fresh selling will do on a close below 219 levels only.

 

 

 

Copper (Feb)

 

Copper has its support at 640 and resistance at 651.

Break and sustain below 640 will take it to 632—625 levels or else it could test its resistance again.

Fresh buying we will do on a close above 651 levels only.

Traders can trade safely with given levels only. To get real time news, updates and recommendations on your WhatsApp. Kindly click on the banner given below.

 

 

 

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

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