Bullion Turns Positive and Energy Shines Again...

DAILY MCX BULLETIN FOR 20 SEPTEMBER 2023

Bullions turn positive on a weekly basis…

Gold - Gold turns positive on a weekly basis and looks good for further upside move. Now Gold has near crucial support around 59100 and upside resistance around 59400. Break and close above 59400 will take it towards 59600 and a fresh upside move will expect above 59600 levels.

Silver- Silver looks good on the weekly chart and closed on a flat note in the last trading session. Now Silver has next support around 72000 and upside resistance around 72800 levels. Break and sustain above 72800 will expect an upside move till 73100-73500 levels.

Metals are trading on a bearish note…

Zinc- Zinc slipped from the higher levels and closed on a bearish note in the last trading session. Now Zinc has near support around 220 and upside resistance around 224. Break above 224 will test 226-228+ levels. Buy on dips around support will be a good entry for the traders.

Copper - Copper performed as per our levels in the last trading session. Now Copper has next support around 724 and upside resistance around 730 levels. Break and sustain above 730 will see an upside move till 734-738 levels in days to come.

Bulls are in the command in Energy Segment…

Natural Gas - Natural Gas shines again and closed on a positive note in the last trading session. Now Natural Gas has near support around 230 and upside resistance around 240. Break above 240 will test 244-248+ levels.

Crude Oil - Crude Oil erased intraday gains but still looks solid for the bull run on the charts. Now Crude Oil has near support around 7500 and near resistance around 7680 levels. Break above 7680 will test 7740 and then to 7800 levels.

Daily Top Pick (20/09/2023)

Buy Natural Gas on dip around 235 with a Stop loss below 230. Target- 242-246.

*T&C Apply…