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Home » Weekly MCX Update – Technical levels of Nickel and Crude Oil.
Commodity weekly update Full Mcx

Weekly MCX Update – Technical levels of Nickel and Crude Oil.

Nickel weekly support and resistance levels

 

Weekly support and resistance levels of Nickel and Crude Oil

Nickel

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In the previous week Nickel unable to sustain above its resistance level 940 and fell down as its 100 days moving average is also coming at that level and it heading towards its major support level of 900.

Now, Nickel has its immediate support at 900 and resistance at 925.

Break and sustain below 900 will give downside panic till 880—865++ levels or else it could test its resistance level.

More and more downside panic will do on a close below 865 level as it could test 835 level too if it manages to close below 865.

Fresh buying in Nickel will do on a close above 925 on a daily closing.

Trade with the levels only.

 

Crude Oil
Crude Oil Technical Chart
Technical Chart of Crude Oil
 

Crude Oil has given tremendous rally from the bottom along with some correction inside the rally.

Now, Crude Oil has its support in 2040 and resistance at 2300.

Break and sustain above 2300 could give upside move till 2550—2750++ levels or else it could test its support again.

Close below 2040 could take correction till 1800—1650 levels.

Trade with the levels only.

 

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