Welcome to Indian Market View. To get real time Stocks, Index and MCX Updates - Click on the WhatsApp icon and fill your details. Or follow our telegram channel. Just click on the telegram icon given below and join.
Home » Weekly Update – Technical levels of MCX Commodities (from 2nd to 06th Aug 2021)
Commodity weekly update Full Mcx

Weekly Update – Technical levels of MCX Commodities (from 2nd to 06th Aug 2021)

MCX Commodities Support and Resistance

 

 

 MCX Commodities Weekly Support and Resistance Levels

 

MCX BULLDEX (AUG)

 

MCXBULLDEX Aug’s contract has settled a little higher at 14648 last week from the previous closing price of 14523. Now the next resistance is at around 14900 and support is seen around 14300.

Break and sustain above 14900 can see the upside move towards 15200/15400 and sustainable trade below 14300 will see the downside move towards 14100/13800 respectively.

(Note: Expected trend sideways to negative.)

 

GOLD (OCT)

 

MCX Gold Oct contract has settled higher on the MCX platform at 48001 from the previous closing price of 47534. The price has not been sustained above the weekly resistance line of 48500 last weekend and slipped.

Now the crucial resistance is at around 48550. Sustainable trade above it can move upside towards the next resistance level of 48850/49200 and if sustains below the weekly support level of 47300 then we can see the downside move towards 46900/46500 again.

(Note: Expected trend sideways)

 

SILVER (SEP)

 

SILVER Sep MCX settled lower at 67847 from the previous weekly closing price of 67024. The next support is at 65500 and resistance 69000.

Break and sustain above 69000 will take it to 70500/72000 and if sustains below 65500 then we can see further downside towards 64500/63000 respectively.

(Note: Expected trend sideways)

 

 

CRUDE OIL (AUG)

 

MCX CRUDE OIL Aug MCX settled higher at 5517 from the previous closing price of 5369. After correction last week we have seen a hammer pattern on the weekly chart and confirmed it.

Now the weekly support is at 5250 and resistance at 5740. Buying is advisable this week if sustains above 5740 levels for the targets towards 6000 levels or can initiate at a lower level for the targets towards 5700 level or above.

(Note: Expected trend positive.)

 

 

NATURAL GAS (AUG)

 

Last couple of weeks Natural gas traded higher and well sustained above the short-term resistance line of 280. We can expect some correction in this week, but the overall trend will be positive.

Now the next resistance is at 312 and support is at 285. If the price will breach the resistance level of 312 then it can move upside towards 330/350 level and if it breaks below 285 then can move towards 270 maximums on the downside.

(Note: Expected trend positive.)

 

COPPER (AUG)

 

COPPER Aug MCX settled lower at 751.70 from the previous closing price of 760.65. Already breached the weekly resistance level of 740 and well sustained above it. Now the weekly support is seen at 740 and resistance 769.

Break and sustained above 769 can see the upside move towards 780/800. Sustainable trade below 740 will catch the downside move again towards the next support level of 730/720.

 (Note: Expected trend positive.)

 

LEAD (AUG)

 

LEAD Aug MCX settled higher 177.25 after hitting the high of 175.20. Now the next resistance is at 182 and support is at 174. If the price will breach the resistance level of 182 then can see the good upside move towards 188/193 and below 172 can catch the downside move again towards 167/162.

(Note: Expected trend sideways.)

 

ZINC (AUG)

 

ZINC Aug MCX settled flat at 248.15 from the previous weekly closing price of 247.75. The next weekly resistance is at 250 and support is at 240.

Sustainable trade above 250 will catch the upside move again but the view will be intact until the recent low 240 is not interrupted. If it sustains below 240 then we can see the further downside move towards 233/228 again.

(Note: Expected trend positive.) 

 

NICKEL (AUG)

 

NICKEL Aug MCX the next resistance is at 1512 and support is at 1440. Last couple of weeks we have seen a good positive move in this counter and now also sustained above the resistance line of 1450 level.

Again, the price if sustains above 1512 can see the upside move towards 1540/1570 and below 1440 can see further downside move up to 1410/1380 levels, respectively.

(Note: Expected trend positive.)

 

 

ALUMINIUM (Aug)

 

ALUMINIUM Aug MCX next resistance is at 210 and support 198. The price has well sustained above the short-term resistance line of 200 which indicates buying for short to medium term basis.

If it break and sustain above the next weekly resistance of 210 then can move further upside towards 216/222 and below 198 will see the downside move towards 192/185 very soon.

(Note: Expected trend positive.)

 

MCXMETLDEX (AUG)

 

MCXMETLDEX Aug the next resistance is seen at 16100 and support is at 15600.  Sustainable trade above 16100 will see the upside move towards 16500/16800 and below 15600 can see the downside move towards 15300/15000 levels, respectively.

(Note: Expected trend  positive.)

 

To get daily updates and technical levels of all MCX Commodities, follow us on WhatsApp. Just, click on the image given below.

 

 

Commodities Update on WhatsApp

 

 

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

 

 

Short Term Monthly Investment Picks for April 2021

Short Term Monthly Investment Pick

Stock Portfolio for Year 2021

Stock Portfolio for 2021

Get FREE Market Updates!

Stock Market WhatsApp Broadcast
Read in your native language.
Open chat
Get Market Updates on your WhatsApp