Technical Levels of Major MCX Commodities
Major Economic Data for the day
6:00 PM – Unemployment Claims
6:00 PM – Philly Fed Manufacturing Index
7:30 PM – CB Leading Index m/m
7:30 PM – Existing Home Sales
8:00 PM – Natural Gas Storage
MCX Gold has support at 47400 and resistance at 47600. Break and sustain below 47400 will take it to the next support level of 47270…47050 and sustainable trade above 47600 and see further upside move towards the next resistance level of 47697…47800.
Silver has support at 65060 while resistance at 65930 Sustainable trade below 65060 will take it to 64820….64427. If it breaks and sustains the resistance level of 65930 then will take it to 66500—67000, respectively.
Copper has support at 774.65 and resistance at 786. Sustainable trade above 786 will see the upside move towards 792…796.85 and if sustained below 774.65 can catch the downside move towards 770…766 respectively.
Nickel has support at 1575 and resistance at 1600. Selling can see this counter below 1575 for the targeting towards 1550…1534.80 and sustainable trade above 1600 will see the upside move towards 1620…1635.
Zinc has support at 293 while resistance at 300. Selling can see this counter below 293 level for the downside target of 289 and then to 286 levels and if sustained above the resistance level of 300 then we will the upside move towards 303.50….306.
Natural gas support has 376 and resistance 386. Sustainable trade above 386 can see more rally towards the next level of 393…400 and if sustained below 376 then can move towards 367…358 maximum.
Crude oil has support at 6200 and resistance at 6280. Sustainable trade below 6200 can see more downside towards 6160…6100 and if sustained above 6280 will see the upside move towards 6320…6380 levels.
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