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Home » The yellow metal’s price made a recovery amid stimulus package release. Technical support & resistance levels of Major MCX Commodities for today.
Basemetal Crude & Natural Gas Full Mcx Gold & Silver

The yellow metal’s price made a recovery amid stimulus package release. Technical support & resistance levels of Major MCX Commodities for today.

Metals

 

 

Metal’s and Other Major MCX Commodities support & resistance levels

 

The yellow metal’s price has broken the descending wedge pattern and almost dropped immediately to the 45600 levels. However, afterward, it took recovery in today’s early trading session; the price was once again reached near the 46139 levels.

 

 

TODAY DATA AND EVENTS

 

 

*ISM Manufacturing PMI at 8:30 PM
*ISM Manufacturing Prices at 8:30 PM
*Construction Spending m/m at 8:30 PM

 

 

Gold

 

Gold has its support at 45600 and resistance at 46150.

Break and sustain above 46150 will take it to 46700—47000. More and more upside rally we will expect on a close above 47000 levels or else it could test its support level of 45600 again.

Fresh selling we will do on a close below 45600 levels only.

 

Silver (MAY)

 

Silver has its support at 69300 and resistance at 69860.

Break and sustain above 69860 will take it to 70400–71200. More and more upside rally we will expect on a close above 71200 levels or else it could test its support level of 69300 again.

Fresh selling we will do on a close below 69300 levels only.

 

Crude oil

 

Crude oil has it its support 4565 and resistance at 4630.

Break and sustain below 4565 will take it to 4500–4450 levels or else it could test its resistance again.

Fresh buying we will do on a close above 4630 levels only.

 

Natural Gas

 

Natural gas has its support at 198 and resistance at 208.

Break and sustain above 208 will take it to 217–223. More and more upside rally we will see on a close above 223 or else it could test its support level of 198.

Fresh selling will do on a close below 198 levels only.

 


Copper

 

Copper has it its support 702 and resistance at 713.

Break and sustain below 702 will take it to 690–680 levels or else it could test its resistance again.

Fresh buying we will do on a close above 713 level only.

Enjoy profits

 

 

Commodity Update on WhatsApp

 

 

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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