Since morning we are witnessing a one-sided up move in Gold and Silver. In the evening session, we have Retail Sales, Core Retail Sales Data along with FOMC Meeting and FED Fund Rate decision.
So what to expect in the evening session in Major MCX Commodities
GOLD
Gold has support at 50400and resistance 50750. Break and sustain below 50400 will take it to the next support level of 50250…50100 and sustainable trade above 50750 can see further upside move towards the next resistance level of 50900…51000
SILVER
Silver has support at 60400 while resistance at 61000. Sustainable trade below 60400 will take it to 60100…59800 very soon. If it breaks and sustain the resistance level of 61000 then will take it to 61300—61600, respectively.
COPPER
Copper has support at 754 and resistance at 760 Sustainable trade above 760 will see the upside move towards 763, 766 and if sustained below 754 can catch the downside move towards 751, 749 respectively.
ZINC
Zinc has support at 314.50 and resistance at 318.50 Break and sustained below 314.50 will see the downside move 312—310.50 and if sustained above 318.50 can see further upside towards 320.50…322 level.
ALUMINIUM
Aluminium has support at 218 and resistance at 222 Sustainable trade below 218 can see the downside move towards 216…214 and if sustains above 222 will take it to 224, 226 very soon.
NATURAL GAS
Natural Gas support has 570 and resistance 580. Sustainable trade above 580 can see more rally towards the next level of 585, 590 and if sustained below 570 then can move towards 565…560.
CRUDE OIL
Crude oil has support at 8950 and resistance at 9040. Sustainable trade below 8950 can see more downside towards 8910…8870 and if sustained above 9040 will see the upside move towards 9080…9120 levels.
Trade safely with levels. More will update during the evening session on our Telegram Channel and will send to our WhatsApp followers.
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