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Home » Major MCX Commodities evening support and resistance levels along with evening data for today.
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

Major MCX Commodities evening support and resistance levels along with evening data for today.

full mcx

 

Base metals trading in a range at the higher ground with copper reached an all-time high in the previous day session. Crude Oil too trading higher and it has been rising since vaccine news came out. On other hand, precious metals are in recovery mode from the lower levels after consecutive two days of fall.

 

Today, traders should concentrate on Prelim GDP q/q along with Unemployment Claims, Core Durable Goods Orders m/m, Goods Trade Balance, Prelim GDP Price Index q/q, Prelim Wholesale Inventories m/m, Revised UoM Consumer Sentiment. Core PCE Price Index m/m, New Home Sales, Personal Income m/m, Personal Spending m/m, Crude Oil Inventories and Natural Gas Storage 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: Prelim GDP q/q [{Previous (33.1%)} {Expected (33.1%)]. Forecast figure is neutral for Base metals and Bullions.

USD 7:00 PM: Unemployment Claims [{Previous (742K)} {Expected (732K)]. Forecast figure is neutral for Base metals and Bullions.

USD 7:00 PM: Core Durable Goods Orders m/m [{Previous (0.9%)} {Expected (0.5%)]. Forecast figure is negative for Base metals while positive for Bullions.

USD 7:00 PM: Goods Trade Balance [{Previous (-79.4B)} {Expected (-80.2B)]. Forecast figure is neutral for Base metals and Bullions.

USD 7:00 PM: Prelim GDP Price Index q/q [{Previous (3.6 %)} {Expected (3.6 %)]. Forecast figure is neutral for Base metals and Bullions.

USD 7:00 PM: Prelim Wholesale Inventories m/m [{Previous (0.4 %)} {Expected (0.4 %)]. Forecast figure is neutral for Base metals and Bullions.

USD 8:30 PM: Revised UoM Consumer Sentiment [{Previous (77.0)} {Expected (76.9)]. Forecast figure is neutral for Base metals and Bullions.

USD 8:30 PM: Core PCE Price Index m/m [{Previous (0.2%)} {Expected (0.0%)]. Forecast figure is negative for Base metals while positive for Bullions.

USD 8:30 PM: New Home Sales [{Previous (959K)} {Expected (972K)]. Forecast figure is positive for Base metals while negative for Bullions.

USD 8:30 PM: Personal Income m/m [{Previous (0.9%)} {Expected (0.0%)]. Forecast figure is negative for Base metals while positive for Bullions.

USD 8:30 PM: Personal Spending m/m [{Previous (1.4%)} {Expected (0.4%)]. Forecast figure is negative for Base metals while positive for Bullions.

USD 9:00 PM: Crude Oil Inventories [{Previous (0.8M)} {Expected (0.1M)]. Forecast figure is positive for Crude oil price.

USD 10:30 PM: Natural Gas Storage [{Previous (31B)} {Expected (33B)]. Forecast figure is neutral for Natural Gas price.

 

 

 

Technical Levels of Base Metals and Other MCX Commodities

 

Gold (Dec)

MCX Gold has its 48350 and resistance at 48900.

Break and sustain below 48350 will take it to 47700—47500 or else it could test its resistance again.

Fresh buying will do on a close above 48900.

Trade with the levels only.

 

 

Silver (Dec)

MCX Silver has its support at 58800 and resistance at 60500.

Break and sustain below 58800 will take it to 57500—57000 or else it could test its resistance again.

Fresh buying will do on a close above 60500.

Trade with the levels only.

 

 

Crude Oil (Dec)

Crude oil has its support at 3330 and resistance at 3380.

Break and sustain above 3380 will take it to 3450—3500 levels or else it could test its support again.

Fresh selling will do on a close below 3330.

Trade with the levels only.

 

 

 

Natural Gas (Dec)

 

Natural Gas has its support at 208 and resistance at 216.

Break and sustain above 216 will take it to 224—228 or else it could test its support again.

Fresh selling will do below 208.

Trade with the levels only.

 

 

 

Zinc (Dec)

Zinc has its Support at 215.50 and resistance at 218.

Break and sustain below 215.50 will take it to 213—212 or else it could test its resistance again.

Fresh buying will do above 218.

Trade with the levels only.

 

Traders can trade safely in given mcx commodities with levels only. More will update soon. Keep following our blog and telegram channel.

 

We are SEBI registered investment advisor. Above free information is only for education / knowledge purpose. Please read disclaimer before trading / investing.

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