All Commodities Slump – Market Drenched in Red.

Daily MCX Bulletin

Global highlights

Possibility of peace talks involving Ukraine and Russia is easing geo- political tension and also oil-related risk. Investors expect possible monetary easing, which typically supports commodity prices—especially gold.

Gold

Gold Investors are closely awaiting remarks from the U.S. Federal Reserve Chair at the upcoming . Resistance around 99600, break and sustain above this level will expect upside move till 100000 mark. On the other side support around 99000, break below this level will see downside move till 98800-98600 mark.

Silver

Silver dropped slightly from yesterday is more of a pause amid a broader, robust uptrend. Resistance around 113600, break and sustain above this level will see upside move till 114400 mark. Key support around 112800, break below this level will see a fresh selling till 112000 mark.

Copper

Copper is trading in a range with a negative bias. Resistance around 884, break above this level will test 888-890 mark. On the Other side support around 877, break below this level will see downside move till 872 mark.

Crude Oil

Crude oil continues to reflect hopes for de-escalation in the Russia–Ukraine conflict. Key Support around 5380, break below this level will see more further downside till 5320 mark. On the other side resistance around 5500, break and sustain above this level will see upside move till 5580-5640 mark.

Natural Gas

U.S. gas production continues near record highs, maintaining pressure on prices. Support around 244, break below will see more downside move around 236-234 mark. On the other side resistance around 255, break and sustain this level will expect move toward till 260-262 mark.

Top Pick

Buy Crude Oil around 5400. Stop loss below 5300. Target-5520-5560.