Bullion stuck in a range and Metals looks weak at higher levels...

DAILY MCX BULLETIN FOR 30 JANUARY 2023

Bullions stucked in a small range…

Gold - Gold is trading around the higher levels and closed on a flat note in the last trading session. Now Gold has near support around 57000 and upside resistance around 57400. Either side breakout will decide further move in upcoming sessions.

Silver - Silver stucked in a small range and closed on a weak note in the last trading session. Now Silver has major support around 67800 and upside resistance around 69000 levels. Break above 69000 will see an upside move till 69400-69800 levels.

Metals looks slightly bearish on the charts…

Zinc - Zinc formed a bearish candle in the last trading session. Now Zinc has near support around 297 and upside resistance around 305. Break and sustain below 297 will test 294-292 levels. Sell on rise around 303 will be a good entry for the traders.

Copper - Copper formed a spinning top candle in the last trading session. Now Copper has next support around 777 and upside resistance around 790 levels. Break and sustain above 790 will test 796-800 levels in the near term.

Aluminium - Aluminium has given a weak move in the last trading session. Now Aluminium has near support around 224 and near resistance around 228 levels. Break and sustain below 224 will test 222-220 levels in upcoming sessions.

Energy Segment looks bearish on the charts...

Natural Gas - Natural Gas continues its free-fall in the last trading session. Now Natural Gas has near support around 230 and upside resistance around 250. Break above 250 will test 260-275 levels. If close below 230 then it will test 220 levels.

Crude Oil - Crude Oil erased all intraday gains in the last trading session. Now Crude Oil has near support around 6450 and near resistance around 6660 levels. An hourly close below 6450 will take it towards 6400-6360 levels in upcoming sessions. On the other side, if sustain above 6660 then it will test upside levels of 6720-6750 levels in upcoming sessions.

Daily Top Pick

Sell Zinc around 302. SL-305. Target-298-295.