Technical Levels of Major MCX Commodities
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MCX Gold has support at 47380 and resistance at 47550. Break and sustain below 47380 will take it to the next support level of 47200…47020 and sustainable trade above 47550 and see further upside move towards the next resistance level of 47680…47800.
MCX Silver has support at 63700 while resistance at 64400 Sustainable trade below 63700 will take it to 63200…62700. If it breaks and sustains the resistance level of 64400 then will take it to 64900—65500, respectively.
Copper has support at 800 and resistance at 808.50. Sustainable trade above 808.50 will see the upside move towards 812…816.50 and if sustained below 800 can catch the downside move towards 793…787 respectively.
Nickel has support at 1566 and resistance at 1590. Selling can see this counter below 1566 for the targeting towards 1550…1540 and sustainable trade above 1590 will see the upside move towards 1600…1611.
Zinc has support at 306 while resistance at 313. Selling can see this counter below 306 level for the downside target of 302 and then to 299 levels and if sustained above the resistance level of 313 then we will the upside move towards 315.50….318.
Natural gas support has 367 and resistance 379. Sustainable trade above 379 can see more rally towards the next level of 384…392 and if sustained below 367 then can move towards 359…348 maximum.
Crude oil has support at 6200 and resistance at 6298. Sustainable trade below 6200 can see more downside towards 6150…6100 and if sustained above 6295 will see the upside move towards 6360…6410 levels.
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