Technical Levels of Major MCX Commodities
MAJOR ECONOMIC DATA FOR THE DAY
7:00 PM Unemployment Claims
7:00 PM Prelim Nonfarm Productivity q/q
7:00 PM Prelim Unit Labor Costs q/q
8:15 PM Final Services PMI
8:30 PM ISM Services PMI
8:30 PM Factory Orders m/m
9:00 PM Natural Gas Storage
Gold has support at 47940 and resistance at 48025. Break and sustain below 47940 will take it to the next support level of 47800….47750 and sustainable trade above 48025 and see further upside move towards the next resistance level of 48150…48300.
Silver has support at 60800 and resistance at 61200. Break and sustain below 60800 will take it to the next support level of 60400….60000 and sustainable trade above 61200 and see further upside move towards the next resistance level of 61600…62000.
Nickel has support at 1728 and resistance at 1738. Sustainable trade above 1738 will see the upside move towards 1746…1755 and if sustained below 1728 can catch the downside move towards 1720…1708 respectively.
Copper has support at 751 and resistance at 755. Sustainable trade above 755 will see the upside move towards 759…763 and if sustained below 751 can catch the downside move towards 747…744 respectively.
Zinc has support at 298 and resistance at 299.50. Sustainable trade above 299.50 will see the upside move towards 301…302.50 and if sustained below 298 can catch the downside move towards 295.50…293.50 respectively.
Crude Oil has support at 6500 and resistance at 6550. Sustainable trade above 6550 can see more upside move towards 6600….6650 and if sustained below 6500 will see the downside move towards 6450….6400 levels.
Natural Gas has support at 380 and resistance at 390. Sustainable trade above 390 can see more upside move towards 396…404 and if sustained below 380 will see the downside move towards 373….366 levels.
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