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Home » Weekly Update – Major MCX Commodities technical support & resistance levels along with trading strategies on same.
Commodity weekly update Full Mcx

Weekly Update – Major MCX Commodities technical support & resistance levels along with trading strategies on same.

MCX Gold and Other Commodities Weekly Levels 05 June

 

 

 

Major MCX Commodities support & resistance levels for the upcoming week

 

 

MCX Gold (Aug)

 

Technical Chart of Gold
Technical Chart of Gold

 

Last week, we recommended that above 49200 Gold will see an upside rise till 49600 levels where it made a high of 49614.

Gold has its support at 48450 and resistance at 49200.

Now, what to expect??

Break and sustain above 49200 upside rally likely to continue till 49600-49900 levels in days to come.

Fresh selling will do on a close below 48450 levels.

Trade with the levels only.

 

MCX Silver (May)

 

Technical Chart of Silver
Technical Chart of Silver
 

Silver has its support at 69840 and resistance at 71800.

Now, what to expect??

Break and sustain above 71800 will take it to 73000-73500 or else it could test its support levels again.

On the other hand, if it breaks below 69800 then it could see downside panic again till 69000-68500 levels.

 

 

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Base Metals – Copper (June)

 

Technical Chart of Copper
Technical Chart of Copper

Copper has its support at 730 and resistance at 774.

Now, what to expect???

Break and sustain below 730 will take it to 720-700 or else it could test its resistance levels again.

Fresh buying will do on a close above 774 levels.

Trade safely with levels only.

 

 

Energy



Last week, we clearly mentioned in our weekly update that we have a clear direction in Natural Gas, and also told that above 221 levels we will see an upside rise till 230 levels, where it made a high of 231.20 during the week. Now, what to expect this week??

 

 

Crude Oil (June)

 

Technical Chart of Crude Oil
Technical Chart of Crude Oil


Support at 4920 and resistance at 5080.

Now, what to expect??

Break and sustain above 4920 upside rally likely to continue till 5150-5200 levels in days to come.

Fresh selling will do on a close below 4920 levels.

Trade with levels.

 

 

Trade safely in MCX Gold above mentioned other commodities with levels only. We publish support and resistance levels chart on daily basis. To get this chart for FREE on your WhatsApp. Click on the image given below and fill your details.

 

 

MCX 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.

 

 

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