Technical Levels of Major MCX Commodities
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Gold has support at 47130 and resistance at 47300. Break and sustain below 47130 will take it to the next support level of 47000…46850 and sustainable trade above 47300 and see further upside move towards the next resistance level of 47450…47570.
Silver has support at 61500 while resistance at 61900 Sustainable trade below 61500 will take it to 61150…60750. If it breaks and sustains the resistance level of 61900 then will take it to 62500—62900, respectively.
Copper has support at 730 and resistance at 741. Sustainable trade above 741 will see the upside move towards 746…750 and if sustained below 730 can catch the downside move towards 725…721 respectively.
Nickel has support at 1474.50 and resistance at 1500. Selling can see this counter below 1474.50 for the targeting towards 1465…1450 and sustainable trade above 1500 will see the upside move towards 1513…1525.
Natural gas support has 400 and resistance 407. Sustainable trade above 407 can see more rally towards the next level of 415…424 and if sustained below 400 then can move towards 390…375 maximum.
Crude oil has support at 6040 and resistance at 6115. Sustainable trade below 6040 can see more downside towards 6000…5950 and if sustained above 6115 will see the upside move towards 6160…6200 levels.
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