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Home » Weekly Overview : MCX Commodities weekly support and resistance levels (12th to 16th July 2021)
Commodity Levels for the day Commodity weekly update Full Mcx

Weekly Overview : MCX Commodities weekly support and resistance levels (12th to 16th July 2021)

MCX Commodities weekly overview

 

 

MCX Commodities Weekly Technical Support and Resistance Levels

 

 

MCX BULLDEX


BULLDEX July contract has settled little higher at 14745 on last week from the previous closing price of 14665. Now the next resistance is at around 15000 and support is at around 14500. Break and sustains above 15000 can see the upside move towards 15300/15500 and sustainable trade below 14500 will see the downside move towards 14250/14000 respectively.

(Note: Expected trend sideways to positive.)

 

 

GOLD


Gold Aug contract has settled higher on the MCX platform at 47923 from the previous closing price of 47285. Last week the weekly resistance level of 48000 breached and well sustained above it. Now the next resistance is seen around 48750. Sustainable trade above it can move upside towards the next resistance level of 49200/49700 and if sustains below the weekly support level of 47250 then can see the downside move towards 46800/46300 again.

(Note: Expected trend positive.)

 


SILVER


SILVER Sep MCX   bounced from it support level of 68000 last week and settled at 69297. The next support is at around 68400 and resistance at 71000. Break and sustain above 71000 will take it to 72300/73500 and if sustains below 68000 then we can see further downside towards 66700/65200 respectively.

(Note: Expected trend positive.)

 


CRUDE OIL

 

CRUDE OIL July MCX settled lower at 5554 from the previous closing price of 5597. Again, crude oil moved higher last week after breaching the major weekly resistance line of 5500 level and well sustained above it. So, the next weekly resistance is at 5740, if it breaks and sustained above it then can see again good upside move towards 6000/6250 level. The support and stop loss remain 5250 for weekly closing basis.

 (Note: Expected trend positive.)

 


NATURAL GAS


Last couple of weeks Natural Gas traded higher and well sustained above the short-term resistance line of 260.  We can also expect some correction in this week, but trend will remain positive. Now the next resistance will be at 284 and support is seen at 261. If the price breached the resistance level of 284 then can move upside towards 300/320 level and if it breaks below 261 then can move towards 250 maximum.

(Note: Expected trend positive.)

 

 

COPPER


COPPER July MCX settled flat at 731.75 from the previous closing price of 722.15. Now the weekly support is at 702 and resistance 742. Break and sustains above 742 can see the upside move towards the next resistance level of 755/770. Sustainable trade below 702 will catch the downside move again towards the next support level of 685.

 (Note: Expected trend sideways to positive.)

 


LEAD


LEAD July MCX settled higher at 179.85 after hit the high of 181.50. Now the next resistance is at 182 and support is at 168. If the price will breach the resistance level of 182 then we can see the good upside move towards 190/195 and below 168 can catch the downside move again towards 165/162.

(Note: Expected trend positive.)

 


ZINC


ZINC July MCX settled higher at 242.40 from the previous closing price of 237.95. The next weekly resistance is at 244.50 and support is at 233.  Sustainable trade above 244.50 will catch the upside move again but the view will be intact until the recent low 233 is not interrupted.   Sustainable trade below 233 can see the further downside move towards 229/222 again.

 (Note: Expected trend positive.)

 

 

NICKEL


NICKEL July MCX the next resistance is seen at 1415 and support is at 1348. From last couple of weeks we have seen good positive move in this counter and now also sustained above the resistance line of 1400 level. Again, the price if sustains above 1415 can see the upside move towards 1435/1450 and below 1348 can see further downside move up to 1330/1315 levels, respectively.

(Note: Expected trend sideways to positive.)

 


ALUMINIUM


ALUMINIUM July MCX next resistance is at 206.50 and support 192. The price has been well sustained above the weekly resistance level of 200. Break and sustain above 206.50 can move further upside towards 212/216 and below 192 will see the downside move towards 187/182 very soon.

(Note: Expected trend positive.)

 


MCX METLDEX


MCXMETLDEX July the next resistance is at 15500 and support is at 14950. Sustainable trade above 15500 will see the upside move towards 15750/16000 and below 14950 can see the downside move towards 14700/14500 levels, respectively.

(Note: Expected trend sideways to positive.)

 

 

Traders can trade safely in above mentioned MCX Commodities with given levels.

To get daily support and resistance levels of all MCX Commodities on your WhatsApp. Click on the image given below and fill your details.

 

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We are SEBI registered investment advisor. Above FREE information is only for education and knowledge purpose.  Do read our disclaimer and consult your financial advisor before taking position in it.

 

 

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