Technical Levels of Gold and other Major MCX Commodities
Major US Economic Data Scheduled Today
06:00 PM CPI m/m
06:00 PM Core CPI m/m
06:00 PM Unemployment Claims Data
08:00 PM Natural Gas Inventory
Today we have 3 major data scheduled at 06:0 PM in the evening. Market might show volatility around that time. Stay cautious and work with stop loss only.
It has immediate support at around 48770 levels below that Gold might touch 48690 and then 48600 levels too.
Upside immediate resistance at 49050 above that next hurdle would be 49110–49240 and then 49370.
Immediate resistance 71620 above that it might touch 71850–72000 zones. Major move will witness on a break above 72200.
While immediate support at 71220 below that it might touch 71000 and 70840 too.
70800 to 70700 is a strong reversal zone for silver.
Immediate resistance zone at 5125–5132 zones above that it might touch 5150–5155 too.
Major move will come after breaking 5160 zones, near term target 5200–5220–5250
Immediate support zone for crude oil is 5090 below that it might touch 5060-5050 too.
That is the best reversal zone for Crude Oil to buy on a dip.
Immediate resistance zone 738–739 above that it might touch 742–745 too.
Major move will come on a break above 746 levels targets would be 752–755 in the near term.
Copper immediate support at 730, Below that it might touch 728–727 too.
That would be the best reversal zone and to take entry in the Buy position.
Downside strong support levels 722–721
More will update after US Economic Data. Trade cautiously
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