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Home » Weekly Update – Major support and resistance levels of MCX Commodities (23rd to 27th Aug 2021)
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Weekly Update – Major support and resistance levels of MCX Commodities (23rd to 27th Aug 2021)

MCX Commodities weekly levels 23rd to 27th August 2021

 

 

MCX Commodities Weekly Support and Resistance Levels

 

 
MCX BULLDEX(SEP)

 

MCXBULLDEX Sep contract has settled little flat at 14107 on last week from the previous closing price of 14154. Now the weekly resistance is at around 14320 and support is at around 13840. Break and sustain above 14320 can see the upside move towards 14550/14700 and sustainable trade below 13840 will see the downside move towards 13550/13250 respectively.

(Note: Expected trend sideways to positive.)

 

 
MCX GOLD (OCT)

 

Gold Oct contract has settled higher on the MCX platform at 47158 from the previous closing price of 46940. The price has made the low of 46816 last week and bounces from its support level. Now the crucial resistance is at around 47850. Sustainable trade above it can move upside towards the next resistance level of 48350/48700 and if sustains below the weekly support level of 46800 then we can see the downside move towards 46400/46000 respectively.

(Note: Expected trend sideways to positive.)

 

 
 
MCX SILVER (SEP)

 

SILVER Sep MCX settled lower at 61721 from the previous weekly closing price of 63238. The next support is at 61500 and resistance at 63900. Break and sustain above 63900 will take it to 65000/66500 and if sustains below 61500 then we can see further downside towards 60000/58500 respectively.

(Note: Expected trend sideways.)

 

 
CRUDE OIL (SEP)

 

CRUDE OIL Sep MCX settled lower at 4640 from the previous closing price of 5081. Now the weekly support is at 4600 and resistance at 5060. Price can move sideways to negative this week. If sustains above the resistance line of 5060 then it can move towards 5170/5300 and if sustains below the support line of 4640 then we can see the downside move again towards the 4500/4350 level.

(Note: Expected trend sideways to negative.)

 

 
 
NATURAL GAS (SEP)

 

Last couple of weeks Natural gas traded in sideways. We can expect some correction this week also, but the overall trend will be positive. Now the next resistance is at 300 and support is at 280. If the price will breach the resistance level of 300 then it can move upside towards 320/335 level and if it breaks below 280 then can move towards 265/250 levels in coming days.

(Note: Expected trend sideways to positive)

 

 
 
COPPER (SEP)

 

COPPER Sep MCX settled lower at 699.45 from the previous closing price of 736.10. Now the weekly support is at 675 and resistance at 732. Break and sustain above 732 can see the upside move towards 750/765. Sustainable trade below 675 will catch the downside move again towards the next level of 650/625.

 (Note: Expected trend negative.)

 

 
LEAD (SEP)

 

LEAD Sep MCX settled a little lower at 178 after hitting the high of 180.40 last week. Now the next resistance is at 181 and support is at 176. If the price will breach the resistance level of 181 and sustains above it then we can see the good upside move towards 185/190 and below 176 can catch the downside move again towards 172/168.

(Note: Expected trend sideways.)

 

 
ZINC (SEP)

 

ZINC Sep MCX settled lower at 242.45 from the previous weekly closing price of 247.05. The next weekly resistance is at 250 and support is at 239.  Sustainable trade above 250 will catch the upside move again but the view will be intact until the recent low 249 is not interrupted. If it sustains below 239 then we can see the further downside move towards 234/230 again and if it breaks and is sustains above the major resistance level of 250 then we can see the good upside move towards 255/260 respectively.

(Note: Expected trend sideways.)

 

 
 
NICKEL (SEP)

 

NICKEL Sep MCX the next resistance is at 1430 and support is at 1380. Last week we have seen the correction in nickel prices from 1481.40 to 1386 level. We can expect more correction this week also. Again, the price if sustains above 1430 then we can see the upside move towards 1470/1500 and below 1380 can see further downside move up to 1350/1320 levels, respectively.

(Note: Expected trend negative.)

 

 
ALUMINIUM (SEP)

 

ALUMINIUM Sep MCX next resistance is at 210 and support at 200. The price has well sustained above the short-term resistance line of 200 which indicates buying for short to medium term basis. If breaks and sustain above the next weekly resistance of 210 then can move further upside towards 216/222 and below 200 will see the downside move towards 195/190 very soon.

(Note: Expected trend sideways to positive.)

 

 
 
MCXMETLDEX (SEP)

 

MCXMETLDEX Sep the next resistance is at 15600 and support is at 15000. Sustainable trade above 15600 will see the upside move towards 15900/16200 and below 15000 can see the downside move towards 14700/14400 levels, respectively.

(Note: Expected trend sideways to negative.)

 

 

Traders can trade safely in above mentioned MCX Commodities with given levels only. Daily support and resistance levels of all mcx commodities will publish on our blog.

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We are a SEBI registered investment advisor. The above free information is for education/knowledge purposes. Read disclaimer on our website before investing.

 

 

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