Technical Levels of Copper and other Major MCX Commodities
MAJOR ECONOMIC DATA FOR THE DAY
7:00 PM : Philly Fed Manufacturing Index
7:00 PM : Unemployment Claims
8:30 PM : Existing Home Sales
9:00 PM : Natural Gas Storage
9:30 PM : Crude Oil Inventories
Gold has support at 48300 and resistance at 48500. Break and sustain below 48300 will take it to the next support level of 48100….47950 and sustainable trade above 48500 and see further upside move towards the next resistance level of 48600…48780.
Silver has support at 63400 and resistance at 64800. Break and sustain below 63400 will take it to the next support level of 64000…63600 and sustainable trade above 64800 and see further upside move towards the next resistance level of 65300…65700.
Nickel has support at 1755 and resistance at 1788. Sustainable trade above 1788 will see the upside move towards 1800…1825 and if sustained below 1755 can catch the downside move towards 1740…1730 respectively.
Copper has support at 752 and resistance at 756. Sustainable trade above 756 will see the upside move towards 759–764 and if sustains below 752 can catch the downside move towards 748…744 respectively.
Zinc has support at 296 and resistance at 300. Sustainable trade above 300 will see the upside move towards 303…305 and if sustained below 296 can catch the downside move towards 293…291 respectively.
Crude Oil(Feb) has support at 6340 and resistance at 6400. Sustainable trade above 6400 can see more upside move towards 6480….6530 and if sustained below 6340 will see the downside move towards 6280….6220 levels.
Natural Gas has support at 296 and resistance at 302. Sustainable trade above 302 can see more upside move towards 310…317 and if sustained below 296 will see the upside move towards 287….280 levels.
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