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Home » Gold rose to its all-time high on poor US data. Read support & resistance levels of mcx commodities.
Crude & Natural Gas Full Mcx Gold & Silver

Gold rose to its all-time high on poor US data. Read support & resistance levels of mcx commodities.

Gold and Silver

 

 

Gold rose to its all-time as poor U.S. data elaborated how badly the COVID-19 pandemic has damaged the world’s top economy. Silver too follows the steps of Gold and trading above 48000 levels on MCX. On the other hand, Crude Oil jumped too supported by output cuts and signs of a gradual recovery in demand amid easing coronavirus curbs, with U.S. oil showing no signs of last month’s contract expiry price rout.

 

Support & Resistance levels of Gold and other Major Commodities

 

Gold (June)

On Friday we recommended buying above 47000 in gold and our both levels of 47400—47500 achieved successfully.

Now, what to expect???

Gold has its support at 47450 and resistance at 48000.

Break and sustain above 48000 will take it 48500—48700++ levels or else it could test its support again.

Fresh selling will do on a close below 47450.

Trade with the levels only.

 

Silver (July)

Once again silver fired above 45550, today it hit 48659. On Friday recommended buying above 45550 for the target of 46500—47000 which has achieved successfully.

Now, what to expect???

Silver has its support at 47700 and immediate resistance at 48700.

Break and sustain above 48700 will likely to continue rally till 49700—50000++ levels or else it could test its support again.

Fresh selling will do on a close below 47700.

Trade with the levels only.

 

Crude Oil (May)

After Gold and Silver, Crude oil-fired too as we recommended buying in it above the level of 2180 for the upside targets of 2280—2300++ levels, today it hit 2377 and our both targets achieved successfully.

Now, what to expect???

Crude oil has its immediate support at 2300 and resistance at 2380.

Break and sustain above 2380 will take it 22480—2500++ levels or else it could test its support again.

Fresh selling will do on a close below 2300.

Trade with the levels only.

 

Natural Gas (May)

Natural gas has its support at 129 and resistance at 132.

Above 132 could test 135—137 levels or else it could test its support again.

Fresh selling will do on a close below 129.

Trade with the levels only.

 

Copper (May)

Copper has its Support at 405 and resistance at 407.50.

Break and sustain above 407.50 will take it to 410—411.50++ levels. More and more upside move will get see on a close above 413 levels.

Fresh selling will do on a close below 405.

Trade with the levels only.

 

 

 

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