Technical Levels of Gold and other Major Commodities
MAJOR ECONOMIC DATA FOR THE DAY
8:30 PM Fed Chair Powell Testifies
Gold
Gold has support at 47480 and resistance at 47620. Break and sustain below 47480 will take it to the next support level of 47330..47200 and sustainable trade above 47620 and see further upside move towards the next resistance level of 47750…47850.
Silver
Silver has support at 60600 and resistance at 61000. Break and sustain below 60600 will take it to the next support level of 60200…59800 and sustainable trade above 61000 and see further upside move towards the next resistance level of 61300…61700.
Nickel
Nickel has support at 1588 and resistance at 1600. Sustainable trade above 1600 will see the upside move towards 1610…1620 and if sustained below 1588 can catch the downside move towards 1579…1570 respectively.
Copper
Copper has support at 733 and resistance at 738. Sustainable trade above 738 will see the upside move towards 742…745 and if sustained below 733 can catch the downside move towards 730…726 respectively.
Zinc
Zinc has support at 286 and resistance at 288. Selling can see this counter below 286 for the targeting towards 284…282 and sustainable trade above 288 will see the upside move towards 290…292.
Aluminum
Aluminum has support at 231.50 and resistance at 233. Sustainable trade above 233 will see the upside move towards 235.50…237 and if sustained below 231.50 can catch the downside move towards 230…228 respectively.
Crude Oil
Crude Oil has support at 5840 and resistance at 5895. Sustainable trade above 5895 can see more upside move towards 5950….6000 and if sustained below 5840 will see the downside move towards 5790….5740 levels.
Natural Gas
Natural Gas has support at 295 and resistance at 302. Sustainable trade above 302 can see more upside move towards 308…315 and if sustained below 295 will see the upside move towards 287….280 levels.
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