Dear Followers, Hope you must be following our MCX Commodities Weekly and Daily levels and making money out of it.
Now, Let’s have a look at this week’s major events along with MCX Commodities Support and Resistance levels.
- This week in major events we have FED Chairman Jerome Powell speech on 10th Jan 2023 (Tuesday) at 08:30 PM.
- Next, we have US Core Price inflation data numbers along with Unemployment claims numbers on 12th Jan 2023 (Thursday) at 07:00 PM.
- On 13th Jan 2023 (Friday) we have Prelim UoM Consumer Sentiment numbers at 08:30 PM
MCX Commodities Technical Levels
- Immediate Support: 55280-55200, Break below this we may see 55040—54860—54670.
- Major Support: 54440–54300 is the major support and bounce back zone.
- Immediate Resistance: 56010—56050, Break above this may lead to 56190–56310—56410.
- Major Resistance: 56450–56550
- Immediate Support: 68500, Break below this we may see 68240—67840—67500.
- Major Support: 67350–67000
- Immediate Resistance: 69450—69550, Break above this may lead to 69850—70200–70600
- Major Resistance: 71200–71500
- Immediate Support: 6080—6000, Break below this we may see 5900–5830
- Major Support: 5800—5750 is strong support and bounce back zone.
- Immediate Resistance: 6260—6270, Break above this we may see 6360.
- Major Resistance: 6370–6420 is the major resistance zone in CRUDE OIL and fresh major move we witness on close above these levels only.
- Support: NG has support zone at 297–290 if it breaks and sustains below these levels then targets would be 275 and then 265 also.
- Resistance: It has resistance zone at 328–336. If it cross and sustains above these levels, then upside targets would be 348–354–366. Again, we can see pressure around 366–370, and cross above that targets would be till 400+
- Immediate Support: 726—722, Break below this we may see 716—713. 712 to 706 would be a good buying zone in it.
- Major Support: 705 to 699 is major support and bounce back zone.
- Resistance: COPPER has resistance zone at 739 to 744. If it gives closing above these levels then expected targets are 755–764–770+ in coming days/weeks.
- Immediate Support: 269, Break below this we may see 267—266.50
- Major Support: 266—265, This is trending support line in Zinc and below this we may see panic in it.
- Immediate Resistance: 272—272.50, Break above this we may see 274.50–276.50–278
- Major Resistance: Is at 279, Above that we may see 282–285++ levels in it.
- Immediate Support: 203, Break below this we may see 201.50
- Major Support: Is at 200–199, below this we may see prices till 197—194.
- Immediate Resistance: 205.50—206.50, Break above this we may see 208—210—211.50
- Major Resistance: 212—212.50
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Team Indian Market View