December 2020 Performance Update: Equity Cash - 74%  | Equity Future - 67,000 (Single lot first target) | Index Premium - 60,000 (Per 2 Lot basis) | Bullion - 53,000 (As per 2 mini lots) & 2,05,000 (As per 1 mega lot first target) | Base Metals - 76,000 (As per 1 mega lot first target) | Energy - 5,000 (As per 1 mega lot first target). For Package queries kindly call your RM or Call us on +91-7065111166
Home » Precious metals traded lower followed by yesterday panic amidst vaccine hope. Evening MCX Technical levels.
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

Precious metals traded lower followed by yesterday panic amidst vaccine hope. Evening MCX Technical levels.

Precious metals

 

Precious metals traded lower followed by yesterday’s panic amidst Vaccine hope as more vaccine good news arrives and U.S. business activity rises at the quickest rate in five years. The U.S. dollar and risk-on activity are drawing investor interest away from the safe-haven metal.

Today, traders should concentrate on the HPI m/m along with CB Consumer Confidence and Richmond Manufacturing Index 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 are as follows:

 

USD 7:30 PM: HPI m/m [{Previous (1.5%)} {Expected (0.8%)]. Forecast figure is negative for Base metals while positive for Bullions.

USD 8:30 PM: CB Consumer Confidence [{Previous (100.9)} {Expected (97.7)]. Forecast figure is negative for Base metals while positive for Bullions.

USD 8:30 PM: Richmond Manufacturing Index [{Previous (29)} {Expected (20)]. Forecast figure is negative for Base metals while positive for Bullions.

 

 

 

Technical Levels of Precious Metals and Other Commodities

 

Precious Metal – Gold (Dec)

Gold has its 48650 and resistance at 49200.

Break and sustain below 48650 will take it to 48000—47700 or else it could test its resistance again.

Fresh buying will do on a close above 49200.

Trade with the levels only.

 

 

 

Silver (Dec)

Silver has its support at 59250 and resistance at 60300.

Break and sustain below 59250 will take it to 58000—57500 or else it could test its resistance again.

Fresh buying will do on a close above 60300.

Trade with the levels only.

 

 

 

Crude Oil (Dec)

 

Crude Oil has its support at 3200 and resistance at 3250.

Break and sustain above 3250 will take it to 3300—3350 levels or else it could test its support again.

Fresh selling will do on a close below 3200.

Trade with the levels only.

 

 

 

Natural Gas (Dec)

 

Natural gas has its support at 207 and resistance at 212.

Break and sustain above 212 will take it to 217—220 or else it could test its support again.

Fresh selling will do below 207.

Trade with the levels only.

 

 

 

 

Copper (Dec)

 

Yesterday, clearly told to buy Copper in panic around 556—554 for the upside target of 561—565, it made high of 562.80 and initial target achieved successfully.

Copper has its Support at 559 and resistance at 563.

Break and sustain above 563 will take it to 567—570 or else it could test its support again.

Fresh selling will do below 559.

Trade with the levels only.

More will update soon.

Commodity Update on WhatsApp

We are a SEBI registered investment advisor. Above free information is for education and knowledge purpose. Kindly read disclaimer on our website before trading / investing.

Stock Portfolio For 2021

Stock Portfolio for 2021

Get FREE Market Updates!

Stock Market WhatsApp Broadcast
Read in your native language.
Open chat
Get Market Updates on your WhatsApp