Bullions and Energy is Showing some Positive Signs...

DAILY MCX BULLETIN FOR 21 AUGUST 2023

Bullions looks positive on the lower levels…

Gold - Gold is moving around the major support level and closed around the same in the last trading session. Now Gold has next support around 58200 and upside resistance around 58500. Break and sustain above 58500 will take it towards 58700 levels and fresh upside move will expect on close above 58700 level.

Silver - Silver again looks good for the upside move on the daily chart. Now Silver has near support around 69800 and upside resistance around 70500 levels. Break and a daily close above 70500 will expect an upside till 70850-71000 levels. Fresh positive move will expect on close above 71000 levels.

Metals look steady after multiple breakdowns…

Zinc - Zinc again holds its support and closed above the same in the last trading session. Now Zinc has near support around 207.50 and upside resistance around 212. Break above 212 will test 214-215 levels.

Copper - Copper again closed on a positive note in the last trading session. Now Copper has next support around 722 and upside resistance around 728 levels. Now fresh upside will expect on close above 728 levels. Buy on dips around support will be a good opportunity for the traders.

Energy Segment again looks positive on the charts…

Natural Gas - Natural Gas dragged sharply in the last trading session. Now Natural Gas has near support around 210 and upside resistance around 218. Break above 218 will test 222+ levels. Further upside move will expect on a daily close above 222 levels.

Crude Oil - Crude Oil again achieved our intraday targets in the last trading session. Now Crude Oil has near support around 6680 and near resistance around 6820 levels. Break above 6820 will test 6870 and then to 6910 levels.

Daily Top Pick

Buy Zinc above 211. Stop loss below 209. Target- 213-215.

*T&C Apply…