Bullions looks positive and metals are trading near support zone...

DAILY MCX BULLETIN 02 JUNE 2022

Bullion formed a reversal candle from lower levels…

Gold - Gold formed a reversal candle on the daily charts. Now Gold has near support around 50400 and upside resistance around 51000. Break and sustain above 51000 will test 51200-51400 levels. A sharp downside move will expect on break below 50400 levels till 50200-50100 levels. Buy on dips around 50700 will be a good entry for the traders.

Silver - Silver has given a bullish reversal candle in the last trading session. Now Silver has near support around 60500 and upside resistance around 61850 levels. An hourly close above 61850 will see an upside move till 62200-62500 levels. Major fall will expect on close below 60500 levels till 60000-59700 levels.

Metals are trading near crucial supports…

Zinc - Zinc closed on a weak note in the last trading session. Now Zinc has near support around 328 and upside resistance around 335. Either side breakout will decide further move in upcoming sessions.

Copper - Copper has given a green candle in the last trading session. Now Copper has next support around 774 and upside resistance around 785 levels. An hourly below 774 will test 770-766 levels in upcoming sessions. A fresh upside move will expect on a break above 785 levels till 795+ levels.

Aluminium - Aluminium fell sharply in the last trading session. Now Aluminium has near support around 230 and near resistance around 235.50 levels. Break and sustain above 235.50 will test 238-240 levels in upcoming sessions. Major downfall will expect on a daily close below 230 levels till 224-222 levels.

Energy Segment looks mixed on the charts...

Natural Gas - Natural Gas looks bullish and closed on a higher note in the last trading session. Now Natural Gas has near support around 650 and upside resistance around 680. Buy on dips around support will be a good opportunity for the traders. Break above 680 will test 692-700 levels.

Crude Oil - Crude looks slightly weak and closed near support levels in the last trading session. Now Crude Oil has near support around 8888 and near resistance around 9100 levels. An hourly close above 9100 will take it towards 9200-9260 levels in upcoming sessions. An hourly close below 8888 will test 8800-8720 levels.

Daily Top Pick

Buy Gold around 50700. SL-50450. Target-50950-51100. *T&C Apply...