Technical Levels of Major MCX Commodities
MAJOR ECONOMIC DATA FOR THE DAY
7:00 PM CPI m/m
7:00 PM Core CPI m/m
9:00 PM Crude Oil Inventories
Gold has support at 47680 and resistance at 47800. Break and sustain below 47680 will take it to the next support level of 47520..47400 and sustainable trade above 47800 and see further upside move towards the next resistance level of 47900…48000.
Silver has support at 60900 and resistance at 61400. Break and sustain below 60900 will take it to the next support level of 60600…60100 and sustainable trade above 61400 and see further upside move towards the next resistance level of 61800…62300.
Nickel has support at 1615 and resistance at 1630. Sustainable trade above 1630 will see the upside move towards 1640…1650 and if sustained below 1615 can catch the downside move towards 1604…1590 respectively.
Copper has support at 749 and resistance at 755. Sustainable trade above 755 will see the upside move towards 758…762 and if sustained below 749 can catch the downside move towards 746…742 respectively.
Zinc has support at 290 and resistance at 292. Selling can see this counter below 290 for the targeting towards 288…286 and sustainable trade above 292 will see the upside move towards 294…296.
Aluminum has support at 233 and resistance at 235. Sustainable trade above 235 will see the upside move towards 237…239 and if sustained below 233 can catch the downside move towards 231…229 respectively.
Crude Oil has support at 6000 and resistance at 6050. Sustainable trade above 6050 can see more upside move towards 6100….6150 and if sustained below 6000 will see the downside move towards 5950….5875 levels.
Natural Gas has support at 322 and resistance at 328. Sustainable trade above 328 can see more upside move towards 335…340 and if sustained below 322 will see the upside move towards 312….304 levels.
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