Gold, Silver and Other MCX Commodities Technical Levels for today’s evening session
Major Economic Data
06:00 PM PPI m/m, Core PPI m/m and Unemployment Claims
08:00 PM Natural Gas Inventories
Gold has support at 50550 and resistance 50950. Break and sustain below 50550 will take it to the next support level of 50400…50250 and sustainable trade above 50950 can see further upside move towards the next resistance level of 51100…51250
Silver has support at 59700 while resistance at 60300. Sustainable trade below 59700 will take it to 59400…59100 very soon. If it breaks and sustain the resistance level of 60300 then will take it to 60600—60900, respectively. (Major resistance will be 61400)
Copper has support at 741 and resistance at 748 Sustainable trade above 748 will see the upside move towards 751, 754 and if sustained below 741 can catch the downside move towards 739, 736 respectively.
Zinc has support at 308 and resistance at 312 Break and sustained below 308 will see the downside move 306—304 and if sustained above 312 can see further upside towards 314…316 level.
Aluminium has support at 227 and resistance at 231 Sustainable trade below 227 can see the downside move towards 225…223 and if sustains above 231 will take it to 233, 235 very soon.
Natural Gas support has 566 and resistance 576. Sustainable trade above 576 can see more rally towards the next level of 581, 586 and if sustained below 566 then can move towards 561…556.
Crude oil has support at 7970 and resistance at 8080. Sustainable trade below 7970 can see more downside towards 7930…7900 and if sustained above 8080 will see the upside move towards 8120…8160 levels.
Trade safely with levels. Volatility is expected at around 6 PM due to Major US Economic Data Release.
More levels will update during the evening session!
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