Bullions and Metals are heading towards north...

WEEKLY MCX BULLETIN FROM 15 NOV TO 19 NOV

Bullions trading in a bullish zone…

Gold - Gold has given a strong bull move in the last week and closed on a solid note on the weekly chart. Now Gold has near support around 48800 and upside resistance around 49400. Break and an hourly close above 49400 will test its initial target of 49600 and more upside move will expect on close above 49600 levels till 50000+ levels. Buy-on dips around support will be a good entry for the traders.

Silver - Silver again performed well in all trading sessions of the last week. We will expect another bull run in the upcoming trading session. Now Silver has near support around 65800 and upside resistance around 67500 levels. Break and sustain above 67500 will test 68400-69000 levels in upcoming sessions. Buy on any sharp dip will be a good entry for the traders for upcoming sessions.

Bully trying to dominate the sessions…

Nickel - Nickel has given a slightly positive move in the last trading session but formed a good candle on the weekly chart. Now Nickel has near support around 1495 and upside resistance around 1540. Break and sustain above 1540 will see fresh upside move till 1560 and then to our next upside target of 1580 levels in the upcoming trading session.

Copper - Copper looks good on the charts and is ready for the fresh breakout on the weekly chart. Now Copper has near support around 730 and upside resistance around 746. Break and hourly close above 746 will see sharp upside move till 755 and then to our next upside target of 770. Any weakness will expect on close below 730 levels.

Lead - Lead too looks positive on charts for the bullish move. Now Lead has near support around 187.50 and upside resistance around 190.50. Above 190.50 it will test 192-194 levels in upcoming sessions.

Energy segment looks weak on charts...

Natural Gas - Natural Gas formed a weak pattern on the chart and we will expect a major breakdown in the upcoming session. Now Natural Gas has the last major support around 350 and upside resistance around 380. If able to close below 350 then it will test 340-330 levels in upcoming sessions.

Crude Oil - Crude Oil is trading around the support zone. Now Crude Oil has near support around 5940 and near resistance around 6130 levels. Break below 5940 will test 5900-5850 levels.

Daily Top Pick

Buy Copper around 740. Stop loss below 730. Target-750-758. *T&C Apply...