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Home » Precious metals trading in a range around its support level, supported by weak US Jobs data.
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

Precious metals trading in a range around its support level, supported by weak US Jobs data.

MCX Commodities

 

Precious metals trading in a range around its support level, supported by weak US Jobs data and as a hedge against a yesterday’s fall in the equity market. On the other hand, Base metals recovered from lower levels and Copper made new high helped by US president-elect Joe Biden’s transition to the White House and with vaccines about to public introduction now insight, if things go according to plan.

 

 

No Major Economic Data for the Day.

 

Technical Levels of Precious Metals and other MCX Commodities

Gold (Dec)

 

Yesterday, Gold failed to break its support and resistance level and remain range-bound. We will continue with the same levels until and unless it gives fresh break and closes and trade within the range.

Gold has its support at 48350 and resistance at 48900.

Break and sustain below 48350 will take it to 47700—47500 or else it could test its resistance again.

Fresh buying will do on a close above 48900.

Trade with the levels only.

 

 

Silver (Dec)

 

Yesterday, Silver failed to break its support and resistance level and remain range-bound. We will continue with the same levels until and unless it gives fresh break and closes and trade within the range.

Silver has its support at 58800 and resistance at 60500.

Break and sustain below 58800 will take it to 57500—57000 or else it could test its resistance again.

Fresh buying will do on a close above 60500.

Trade with the levels only.

 

 

 

Crude Oil (Dec)

 

Crude oil has its support at 3310 and resistance at 3380.

Break and sustain below 3310 will take it to 3240—3200 levels or else it could test its resistance again.

Fresh buying will do on a close below 3380.

Trade with the levels only.

 

 

 

Natural Gas (Dec)

 

Natural Gas has its support at 215 and resistance at 220.

Break and sustain above 220 will take it to 225—228 or else it could test its support again.

Fresh selling will do below 215.

Trade with the levels only.

 

 

 

Zinc (Dec)

 

Zinc not able to break its support level of 215.50 and bounced back and trading above its resistance level of 218.

Now, what to expect???

Zinc has its Support at 218 and resistance at 220.

Break and sustain above 220 will take it to 222—224 or else it could test its support again.

Fresh selling will do on a close below 218.

Trade with the levels only.

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Above FREE information is for knowledge and education purpose. Kindly read disclaimer before trading / investing.

 

 

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