Technical Levels of Major MCX Commodities
MAJOR ECONOMIC DATA FOR THE DAY
8:30 PM Existing Home Sales
Gold has support at 48700 and resistance at 48870. Break and sustain below 48700 will take it to the next support level of 48580…48400 and sustainable trade above 48870 and see further upside move towards the next resistance level of 49017…49184.
Silver has support at 65500 while resistance at 66062 Sustainable trade below 65500 will take it to 65100….64700. If it breaks and sustains the resistance level of 66062 then will take it to 66500—67037, respectively.
Copper has support at 729 and resistance at 733. Sustainable trade above 733 will see the upside move towards 737…742 and if sustained below 729 can catch the downside move towards 723…718 respectively.
Nickel has support at 1532 and resistance at 1540. Selling can see this counter below 1532 for the targeting towards 1520…1512 and sustainable trade above 1540 will see the upside move towards 1548…1560.
Zinc has support at 268 and resistance at 270. Selling can see this counter below 268 for the targeting towards 265.50…263 and sustainable trade above 270 will see the upside move towards 272…273.50.
Natural gas support has support at 362.50 and resistance at 366.50. Sustainable trade above 366.50 can see more rally towards the next level of 370…378 and if sustained below 362.50 then can move towards 356…350 maximum.
Crude oil has support at 5650 and resistance at 5700. Sustainable trade below 5650 can see more downside towards 5600…5550 and if sustained above 5700 will see the upside move towards 5760…5810 levels.
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