Bullions Again on Fresh ATH, Energy Trades Mixed...

Daily MCX Bulletin

Gold

Gold reached at record high of 1,15,000+. Support around 1,14,500 break below this level will see profit booking till 1,13,800-1,14,000 mark. Further upside move will be expected above 1,15,500 level.

Silver

Silver has also reached lifetime highs. Support around 1,43,000 break below this level will see down side move till 1,42,000-1,41,600 mark. Further upside move will be expected above 1,44,400 level.

Copper

Copper in particular has surged recently owing to a supply disruption at Freeport-McMoRan’s Grasberg mine in Indonesia. Resistance around 950, break above this level will see upside move till 957-960 mark. On the Other side, support around 944, break below this level will see a downside move till 938-935, mark.

Crude Oil

Crude oil exports from Iraq’s Kurdistan region have restarted after about 2.5 years this increases supply pressure in the region. Support around 5680, break below this level will test 5600-5570 mark. On the other side, resistance around 5860, break and sustain above this level will see upside move till 5920-5960, mark.

Natural Gas

Over the past month, Natural gas prices have shown a modest upward trend globally, but still well below high volatility levels. Support around 278, break below will see more downside move around the 274--272 mark. On the other side, resistance around 286, break and sustain above this level will expect a fresh upside move till 292-295, mark.

Top Pick

Buy Gold around 1,15,000. Stop loss below 1,14,700

Target -1,15,400-1,15,600