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Home » Evening MCX Update – Precious metals recovered from lower supported by the weak dollar index.

Evening MCX Update – Precious metals recovered from lower supported by the weak dollar index.

Precious metals

 

 

Precious metals recovered from lower in the second session of trading supported by weak dollar index and 10-year treasury bills amid rising corona cases. On the other hand, Base metals and energy trading range-bound.

 

No major economic data for the day.

 

 

Technical Levels of Precious metals and other Major Commodities

 

 

Gold (June)

Gold has its support at 47100 and resistance at 47850.

Traders can buy Gold in the range of 47450—47400 for the upside target of 47850—48200++ levels.

Fresh selling will do on a close below 47100.

Trade with the levels only.

 

Silver (May)

Silver has its support at 67700 and resistance at 68800–69400.

Break and sustain above 68800 will take it to 69400. More and more upside move will get to see on a close above 690400 levels.

Fresh selling will do on a close below 67700.

Trade with the levels only.

 

Crude oil (May)

Crude oil has its support at 4680 and resistance at 4830.

Break and sustain above 4830 will take it to 4970. More and more upside move will get to see on a close above 4970 levels.

Fresh selling will do on a close below 4680.

Trade with the levels only.

 

Natural Gas (April)

Natural gas has its support at 198 and resistance at 210.

Traders can buy Natural gas on dip around 204—202 with keeping a stop loss below 198.

Fresh selling will do on a close below 198.

Trade with the levels only.

 

Aluminium (April)

Aluminium has its support at 186 and resistance at 190.50.

Break and sustain above 190.50 will take it to 195—197 or else it could test its support again.

Fresh selling will do on a close below 186.

Trade with the levels only.

 

 

Commodity 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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