Bullions looks dull and Metals still trading in a green zone...

DAILY MCX BULLETIN ON 24 DEC 2021

Bullions look dull on the charts…

Gold - Gold closed on a slightly weak note in the last trading sessions. Now Gold has next major support around 47950 and an upside resistance zone around 48300. Break above 48300 will test 48500+ levels in upcoming sessions. Break below 47950 will test 47800 levels. More and more downside will expect on close below 47800 levels till 47500 mark.

Silver - Silver was still unable to breach its resistance and closed near its hurdle in the last trading session. Now Silver has near and major support around 61600 and upside resistance around 62500 levels. Break and sustain above 62500 will test 63000-63400 levels for the day.

Metals still trading in a green zone…

Nickel - Nickel still looks positive and closed on higher levels in the last trading session. Now Nickel has next support around 1550 and upside resistance around 1575. Break and sustain above 1575 will test 1585+ levels in upcoming sessions. Major weakness will expect on a daily close below 1550 levels.

Copper - Copper is trading around its major resistance. Now Copper has next support around 744 and upside resistance around 753. Either side breakout will decide further move in upcoming sessions.

Zinc - We have seen a profit booking in the last trading session. Now Zinc has the next resistance around 292 and next support around 287 levels. Break and sustain above 292 will test 295 levels again. Below 287 it will test 285 levels.

Energy segment looks mixed on the charts...

Natural Gas - Natural Gas crashed sharply from higher levels and broke its major support. Now Natural Gas has major support around 275 and upside resistance around 295. Break and sustain below 275 will test 268-260 levels in upcoming sessions. Any sharp rise will be a good selling opportunity for the traders.

Crude Oil - Crude Oil is trading around its resistance zone. Now Crude Oil has near support around 5450 and near resistance around 5550 levels. Break and an hourly close above 5550 will test 5620-5700 levels again.

Daily Top Pick

Sell Natural Gas around 289. SL-297. Tgt-280-275. *T&C Apply...