Bullions looks good but Metals may correct from current levels...

WEEKLY MCX BULLETIN FROM 13 DEC TO 17 DEC 2021 Bullions may reverse from current levels…

Gold - Gold has given a positive move in the last trading session. Now Gold has next major support around 47800 and upside resistance around 48300. An hourly close above 48300 will test 48500 and more and more upside move will expect on close above 48500 till 48800-49000 levels. Fresh weakness will expect on close below 47800 levels.

Silver - Silver too formed a green reversal candle in the last trading session. Now Silver has near and major support around 60000 and upside resistance around 61800 levels. Any close over 61800 will see a fresh upside rally till 63000+ levels in upcoming sessions. Risky traders can enter on dips around support for the intraday gain of 400-600 points.

Metals look dull on the charts…

Nickel - Nickel is trading in a range and ready for the fresh move. Now Nickel has near support around 1540 and upside resistance around 1565. Break and sustain above 1565 will test 1575-1590 levels in upcoming sessions. The fresh negative move will expect on close below 1540 levels.

Copper - Copper looks dull and closed on a weak note in the last trading session. Now Copper has next support around 728 and upside resistance around 745. Break below 728 will test 724-720 levels in upcoming sessions. Any fresh bull run may expect on close above 745 levels.

Zinc - Zinc is trading around resistance levels and ready for a fresh breakout. Now Zinc has the next resistance around 280 and next support around 275 levels. Break and sustain above 280 will test 284+ levels in upcoming sessions.

Energy segment looks mixed on the charts...

Natural Gas - Natural Gas bounced and achieved our upside targets in the last trading session. Now Natural Gas has near support around 285 and upside resistance around 300. Break and hourly close over 300 will test 306-310 levels.

Crude Oil - Crude closed on a positive note in the last trading session. Now Crude Oil has near support around 5350 and near resistance around 5500 levels. An hourly close above 5500 will test 5560-5600 levels for the day.

Weekly Top Pick

Buy Gold mini above 48300 and add more @ 48100. SL-47800. Target-48500-48800. *T&C Apply...