Major MCX Commodities Technical Support and Resistance Levels For Evening Session
Major Economic Data in the evening session
07.30 PM: Final Wholesale Inventories m/m
GOLD
Gold has support at 50800 and resistance 51200. Break and sustain below 50800 will take it to the next support level of 50700…50550 and sustainable trade above 51200 can see further upside move towards the next resistance level of 51350…51500.
SILVER
Silver has support at 61900 while resistance at 62500. Sustainable trade below 61900 will take it to 61600…61300 very soon. If it breaks and sustain the resistance level of 62500 then will take it to 62800—63100, respectively. (Major resistance will be 63500)
COPPER
Copper has support at 743 and resistance at 750 Sustainable trade above 750 will see the upside move towards 753, 756 and if sustained below 743 can catch the downside move towards 740, 738 respectively.
ZINC
Zinc has support at 312 and resistance at 316 Break and sustained below 312 will see the downside move 310—308 and if sustained above 316 can see further upside towards 318…320 level.
ALUMINIUM
Aluminium has support at 232 and resistance at 236 Sustainable trade below 232 can see the downside move towards 230…228 and if sustains above 236 will take it to 238, 240 very soon.
NATURAL GAS
Natural gas support has 620 and resistance 630. Sustainable trade above 630 can see more rally towards the next level of 635, 640 and if sustained below 620 then can move towards 615…610.
CRUDE OIL
Crude Oil has support at 8280 and resistance at 8360. Sustainable trade below 8280 can see more downside towards 8240…8200 and if sustained above 8360 will see the upside move towards 8400…8440 levels.
Trade safely and Kindly follow our levels carefully. More will update in the evening session.