Bullions and Metals Shines Amid Supportive Global Cues...
- Millennial Investor's Service
- Feb 19, 2024
- 2 min read
DAILY MCX BULLETIN FOR 19 FEBRUARY 2024
Bullions Trying to enter in Bullish Zone and Silver leads the Game...
Gold - Gold is trading with a positive bias and closed above the resistance zone in the last trading session. Now Gold has near support around 61600 and upside resistance around 61950. Break and sustain above 61950 will take it towards 62100 and then to 62250 levels. The fresh bull run will expect on close above 62000 mark.
Silver- Silver jumped nicely and achieved our intraday targets in the last trading session. Silver has near support around 71600 and upside resistance around 72200 levels. Break and sustain above 72200 will expect an upside move till 72600-72900 levels. Buy on dips around support will be the best opportunity for the traders.
Metals Shines Again…
Zinc- Zinc took the reversal and ended on a bullish note on the daily chart. Now Zinc has near support around 212 and upside resistance around 215. Break above 215 will test 217 and then to 219 levels.
Copper - Copper formed a three-white shoulder pattern on the daily chart. Now Copper has next support around 718 and upside resistance around 725 levels. Break and sustain above 725 will test 729-734 levels for the day. Buy on dips around support will be the best strategy for the traders.
Crude Oil is the only Shining Star…
Natural Gas - No mercy for the Natural Gas traders and still looks bearish on the daily chart. Now Natural Gas has major support around 130 and upside resistance around 138. Break and sustain above 138 will test 142-145 levels for the day.
Crude Oil - Crude Oil jumped above the major resistance zone and closed on a bullish note in the last trading session. Now Crude Oil has near support around 6480 and near resistance around 6580 levels. Break above 6580 will test 6640-6670 levels. Buy on dips around support will be a good strategy for the traders.
Daily Top Pick (19/02/2024)
Buy Crude Oil on dip around 6500 for the upside target of 6620 and then to 6670. Stop loss below 6400.
*T&C Apply…
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