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Home » Higher US Treasury yields held precious metals firm. Major MCX Commodity update.
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

Higher US Treasury yields held precious metals firm. Major MCX Commodity update.

Precious metals

Precious metals traded range-bound amid higher US treasury yields as investors prepare for higher government spending under the incoming Joe Biden administration. On the other hand, Base metals and Crude oil traded higher supported by a positive equity market.


Today, traders should concentrate on the JOLTS Job Openings from the house of the US which will impact Base metals and Bullions. If the forecast figure match with the actual data then the possible impact are as follows:

USD 7:00 PM: JOLTS Job Openings [{Previous (6.65M)} {Expected (6.42M)]. Forecast figure is negative for Base metals while positive for Bullions.

 

 

Technical Levels of Precious Metals and Other Major Commodities

 

 

Gold (Feb)

 

Gold has its support at 49200 and resistance at 49600.

Break and sustain above 49600 will take it to 50000—50200 or else it could test its support again.

Fresh selling will do on a close below 49200.

Trade with the levels only.

 

Silver (March)

 

Silver has its support at 64500 and resistance at 66450.

Break and sustain above 66450 will take it to 67500—68000 or else it could test its support again.

Fresh selling will do on a close below 64500.

Trade with the levels only.

 

Crude Oil (Jan)

 

Crude oil has its support at 3850 and resistance at 3920.

Break and sustain above 3920 will take it to 4000—4050 or else it could test its support again.

Fresh selling will do on a close below 3850.

Trade with the levels only.

 

Natural Gas (Jan)

 

Natural gas has its support at 200 and resistance at 210.

Break and sustain below 210 will take it to 220—225 or else it could test its support again.

Fresh selling will do on a close below 200.

Trade with the levels only.

 

Aluminum (Jan)

 

Aluminum has its Support at 163 and resistance at 165.10.

Break and sustain above 165.10 will take it to 167.50—169 or else it could test its support again.

Fresh selling will do on a close below 163.

Trade with the levels only.

 

 

 

We are a SEBI registered investment advisor. The above free information is for education/knowledge purposes. Read disclaimer on our website before investing.

 

 

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Stock Portfolio For 2021

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