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 gave up early-session gains. Trading levels of Bullion and other major commodities.
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

Gold gave up early-session gains. Trading levels of Bullion and other major commodities.

Gold Trading

 

Gold loosen all its early session gain amidst vaccine hopes triggered interest of investors to invest in riskier assets. On the other hand, Crude oil traded higher as swift and bold output cuts by OPEC and its allies are boosting prices of physical oil barrels in Asia as supply tightens.

Today, traders should concentrate on the Building Permits along with Housing Starts and Fed Chair Powell Testifies from the house of the 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 6:00PM: Building Permits [{Previous (1.35M)} {Expected (1.00M)]. The forecast figure is negative for Base Metals while positive for Bullions.

USD 6:00PM: Housing Starts [{Previous (1.22M)} {Expected (0.95M)]. The forecast figure is negative for Base Metals while positive for Bullions.

USD 7:30 PM: Fed Chair Powell Testifies

 

Technical Levels Gold and other Major Commodities

 

Gold (June)

Yesterday, Gold unable to break its resistance level of 48000 and crashed. Told to fresh sell below 47450, it made low of 46550.

Now, what to expect???

Gold has its support at 46450 and resistance at 46950.

Break and sustain below 46450 will take it 46000—45800++ levels or else it could test its resistance again.

Fresh buying will do on a close above 46950.

Trade with the levels only.

 

 

Silver (July)

Yesterday, Silver unable to sustain above its resistance level of 48700 and crashed.

Now, what to expect???

Silver has its support at 46800 and immediate resistance at 47950.

Trade within the range and wait for the confirmation.

 

Crude Oil (May)

Once again our level of Crude oil proven great recommended buying above 2380 for the target of 2500 which has achieved successfully.

Now, what to expect???

Crude oil has its immediate support at 2350 and resistance at 2470.

Break and sustain below 2350 will take it 2250—2200++ levels or else it could test its resistance again.

Fresh buying will do on a close above 2470.

Trade with the levels only.

 

Natural Gas (May)

Natural gas is dancing as per our daily MCX levels. Again, Recommended buying in Natural gas above 132 for the targets of 135—137, it hit 140. Both targets achieved successfully.

Now, what to expect??

Natural gas has its support at 131.50 and resistance at 140.

Natural gas is likely to trade within the given support and resistance. Traders can trade within the range and wait for the confirmation.

 

 

Copper (May)

Our level of Copper too proven great as recommended buying above 407.50 for the upside target of 410—411.50, it hit 413.30. Both targets achieved successfully.

Now, what to expect??

Copper has its Support at 409 and resistance at 413.50.

Break and sustain above 413.50 will take it to 418—420++ levels. More and more upside move will get see on a close above 420 levels.

Fresh selling will do on a close below 409.

Trade with the levels only.

 

Commodity Telegram Channel

Our Recommendations

Get FREE Market Updates!

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