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Home » Evening MCX Update – Precious metals traded lower amid a rebound in the US 10-year Treasury Yield.
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

Evening MCX Update – Precious metals traded lower amid a rebound in the US 10-year Treasury Yield.

Precious metals

 

 

Precious metals traded lower in early session on Tuesday amid a rebound in the US 10-year Treasury Yield and also weighed down by Dollar index as it bounced too while the U.S. Federal Reserve will not consider changing its dovish monetary policy until they see higher inflation providing support to the precious metals.

Today, traders should concentrate on JOLTS Job Openings from the house of the US which will impact Base metals and Bullions. If the forecast figure match with the actual data then the possible impact as follows:

USD 7:30 PM JOLTS Job Openings [{Previous (7.37M)} {Expected (7.50M)]. Forecast figure is positive for Base metals while negative for Bullions.

 

 

 

Technical Levels  of Precious metals and other Major Commodities

 

 

Gold (June)

Gold has its support at 47700 and resistance at 48200.

Break and sustain below 47700 could test 47300—47250 or else it could test its resistance again.

Fresh buying will do above 48200.

Trade with the levels only.

 

 

Silver (July)

Silver has its support at 70900 and resistance at 72000.

Break and sustain below 70900 could test 70000—69500 or else it could test its resistance again.

Fresh buying will do above 72000.

Trade with the levels only.

 

 

Crude oil (May)

Crude oil has its support at 4670 and resistance at 4820.

Break and sustain below 4670 will take it to 4550—4500 or else it could test its resistance again.

Fresh buying will do on a close above 4820.

Trade with the levels only.

 

 

Natural Gas (May)

Natural gas has its support at 213 and resistance at 219–223.

Trade within the range and wait for confirmation.

 

 

Zinc (May)

Zinc has its support at 234 and resistance at 238-242.

Traders can buy Zinc around 236 with stop loss below 234 for the upside target of 238—242 levels.

Fresh selling will do on a close below 234.

Trade with the levels only.

 

 

Commodity Updates

 

 

 

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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