Bullions and Metals Looks Bright on Charts...

DAILY MCX BULLETIN FOR 27 JULY 2023

Bullion Shines and Looks Bright for Further Upside…

Gold - Gold achieved our intraday targets and closed on a bullish note in the last trading session. Now Gold has intraday support around 59300 and upside resistance around 59600. Break and sustain above 59600 will test 59850 and then to 60000 levels in the upcoming trading sessions.

Silver - Silver outperformed and formed a bullish pattern on the daily chart in the last trading session. Now Silver has near support around 74500 and upside resistance around 75500 levels. Break above 75500 will see an upside move till 76200-76500 levels. Any negative move will expect on close below 74500 levels.

Metals look solid on the charts…

Zinc - Zinc formed a bullish pattern on the daily chart and is ready for a fresh breakout. Now Zinc has near support around 217 and upside resistance around 220. Break and sustain above 220 will test 223-225 levels.

Copper - Copper is sustaining around the crucial hurdle and preparing for the fresh bull run. Now Copper has next support around 735 and upside resistance around 744 levels. Break and sustain above 744 will test 750-760 levels in the near term. Buy on dips around support will be a good opportunity for the intraday traders.

Aluminium - Aluminium still looks good on the charts and closed on a positive note in the last trading session. Now Aluminium has near support around 197 and near resistance around 200 levels. Break and sustain above 200 will test 203-205 levels in upcoming sessions.

Crude Oil is Moving in a Bullish Zone…

Natural Gas - Natural Gas is moving in a range ahead of weekly inventory. Now Natural Gas has near support around 218 and upside resistance around 224. Break above 224 will test 230-234 levels.

Crude Oil - Crude Oil erased all intraday gains and closed just above the crucial support in the last trading session. Now Crude Oil has near support around 6420 and near resistance around 6550 levels. An hourly close below 6550 will take it towards 6600+ levels in upcoming sessions. Buy on any sharp dip will be a good entry for the traders.

Daily Top Pick

Buy Silver above 75500 with stop loss below 75000. Target-76100-76500.

*T&C Apply…