Technical Levels of Major MCX Commodities for evening session ahead!
Today Evening Major US Economic Data
07:00 PM : Philly Fed Manufacturing Index, Unemployment Claims, Building Permits, Housing Starts
09:00 PM : Natural Gas Storage
09:30 PM : FOMC Member Bullard Speaks
MCX Gold has support at 49900 and resistance 50200. Break and sustain below 49900 will take it to the next support level of 49750…49600 and sustainable trade above 50200 can see further upside move towards the next resistance level of 50350…50500.
Silver has support at 63400 while resistance at 64000. Sustainable trade below 63400 will take it to 63100…62900 very soon. If it breaks and sustain the resistance level of 64000 then will take it to 64300—64600, respectively. (Major resistance will be 65000)
Copper has support at 764 and resistance 770. Sustainable trade above 770 will see the upside move towards 773, 776 and if sustained below 764 can catch the downside move towards 761, 758 respectively.
Lead has support at 183.10 and resistance at 187.10 Break and sustained below 183.10 will take it to 181…179 and sustainable trade above 187.10 will see the upside move towards 189, 190.
Zinc has support at 296 and resistance at 300 Break and sustained below 296 will see the downside move 294—293 and if sustained above 300 can see further upside towards 303…305 level.
Nickel has support at 1770 and resistance at 1800. More selling can see this counter below 1770 for the targeting towards 1760…1750 and sustainable trade above 1800 again will see the upside move towards 1810, 1820.
Aluminium has support at 259 and resistance at 263 Sustainable trade below 259 can see the downside move towards 257…255 and if sustains above 263 will take it to 265, 267 very soon.
MCX Natural Gas support has 338 and resistance 348. Sustainable trade above 348 can see more rally towards the next level of 353, 359.50 and if sustained below 338 then can move towards 333…328.
MCX Crude oil has support at 6700 and resistance at 6800 . Sustainable trade below 6700 can see more downside towards 6660…6620 and if sustained above 6800 will see the upside move towards 6840…6880 levels.
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