Our Cash Segment, June 2020 profit exceded 100%++. Calculation done as per the first target basis. Package price only Rs 7,000 + GST per month. Hurry! Subscribe it today and get profitable research calls. For more details call your RM or Call us on +91-7065111166.
Home » Gold gain amidst fear of rising coronavirus cases moved investors to safe-haven. Major MCX Commodities technical levels.
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

Gold gain amidst fear of rising coronavirus cases moved investors to safe-haven. Major MCX Commodities technical levels.

Gold

 

Gold gain on Monday as worries over a surge in COVID-19 infections globally dented optimism about a swift economic rebound, driving investors toward the safe-haven metal. On the other hand, Base metals are trading in a range waiting for more clarification amidst a recovery in the global economy.

Today, traders should concentrate on the Pending Home Sales m/m from the house of US which will impact on metal and Bullions segment. If the forecast figure match with the actual data then the possible impact are as follows:

USD 7:30 PM: Pending Home Sales m/m [{Previous (-21.8%)} {Expected (18.9%)]. Forecast figure is positive for Base metals while negative for Bullions.

 

Technical Levels of Gold and Major MCX Commodities

 

Gold (Aug)

Gold has its support at 48100 and resistance at 48600.

Break and sustain above 48600 will take it to 49100—49300 or else it could test its support again.

Fresh selling will do on a close below 48100.

Trade with the levels only.

 

Silver (Sep)

Silver has its immediate support at 49000 and resistance at 49600.

Above 49600 it could test 50200—50400 levels or else it could test its support again.

Fresh selling will do on a close below 49000.

Trade with the levels only.

 

Crude Oil (July)

Crude oil has its support at 2830 and resistance at 2950.

Break and sustain above 2950 will take it to 3050 —3100 levels or else it could test its support again.

Fresh selling will do on a close below 2830 levels.

Trade with the levels only.

 

Natural Gas (July)

Natural Gas has its support at 119 and resistance at 122.50.

Break and sustain above 122.50 it could test 125.50—127 levels or else it could test its support again.

Fresh selling will do on a close below 119.

Trade with the levels only.

 

Copper (July)

Copper has its Support at 458 and resistance at 461.

Break and sustain above 461 will take it to 464—466 levels or else it could test its support again.

Fresh selling will do on a close below 458.

Trade with the levels only.

 

Commodity Update on WhatsApp

Our Recommendations

Get FREE Market Updates!

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