Technical Levels of Gold and other Major Commodities
Major Economic Data for the day.
6:00 PM – PPI m/m
6:00 PM – Core PPI m/m
6:00 PM – Unemployment claim
MCX Gold has support at 47790 and resistance at 48200. Break and sustain below 47790 will take it to the next support level of 47600…47450 and sustainable trade above 48200 and see further upside move towards the next resistance level of 48380…48500.
Silver has support at 63010 while resistance at 63900 Sustainable trade below 63010 will take it to 62715…62458. If it breaks and sustains the resistance level of 63900 then will take it to 64350—64900, respectively.
Copper has support at 761 and resistance at 772. Sustainable trade above 772 will see the upside move towards 780…788 and if sustained below 761 can catch the downside move towards 752…746 respectively.
Nickel has support at 1490 and resistance at 1510. Selling can see this counter below 1490 for the targeting towards 1480…1474 and sustainable trade above 1510 will see the upside move towards 1520…1526.
Natural gas support has 425 and resistance 437. Sustainable trade above 437 can see more rally towards the next level of 442…447 and if sustained below 425 then can move towards 419…415 maximum.
Crude oil has support at 6090 and resistance at 6190. Sustainable trade below 6090 can see more downside towards 6055…6010 and if sustained above 6190 will see the upside move towards 6265…6300 levels.
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