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 » MCX market is trading in range as investors are waiting for further stimulus measures. Evening support and resistance levels.
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

MCX market is trading in range as investors are waiting for further stimulus measures. Evening support and resistance levels.

FULL MCX

 

MCX market is trading in range as Investors are waiting for further stimulus measures and US President-elect Joe Biden’s plans on pandemic relief which will bring a fresh moment in the market.

 

Today, traders should concentrate on the Import Prices m/m along with Unemployment Claims and Natural Gas Storage 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 are as follows:

USD 7:00 PM: Import Prices m/m [{Previous (0.1%)} {Expected (0.7%)]. Forecast figure is positive for Base metals while negative for Bullions.
USD 7:00 PM: Unemployment Claims [{Previous (787K)} {Expected (785K)]. Forecast figure is neutral for Base metals and Bullions.
USD 9:00 PM: Natural Gas Storage [{Previous (-130B)} {Expected (-129B)]. Forecast figure is neutral for Natural Gas price.

 

 

Technical Levels of Major MCX Commodities

 

Gold (Feb)

 

Gold has its support at 48600 and resistance at 49200.

Break and sustain below 48600 will take it to 48000—47700 or else it could test its resistance again.

Fresh buying will do on a close above 49200.

Trade with the levels only.

 

 

Silver (March)

 

Silver has its support at 64800 and resistance at 65600.

Break and sustain below 64800 will take it to 64000—63500 or else it could test its resistance again.

Fresh buying will do on a close above 65600.

Trade with the levels only.

 

 

Crude Oil (Jan)

 

Crude oil has its support at 3830 and resistance at 3910.

Break and sustain below 3830 will take it to 3750—3700 or else it could test its resistance again.

Fresh buying will do on a close above 3910.

Trade with the levels only.

 

 

 

Natural Gas (Jan)

 

Natural gas has its support at 198 and resistance at 207.

Break and sustain above 207 will take it to 215—218 or else it could test its support again.

Fresh selling will do on a close below 198.

Trade with the levels only.

 

 

Lead (Jan)

 

Lead has its Support at 164.50 and resistance at 166.50.

Break and sustain above 166.50 will take it to 168.50—170 or else it could test its support again.

Fresh selling will do on a close below 164.50.

Trade with the levels only.

 

 

Above FREE Information is only for knowledge and education purpose. Kindly read disclaimer before trading and investing.

Live Market Updates on WhatsApp

 

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