Bullions looks positive and Metals looks dicey...

WEEKLY MCX BULLETIN FROM 20 DEC TO 24 DEC Bullions are trading in a green zone…

Gold - Gold performed well and achieved our upside targets in the last trading sessions. Now Gold has the next major support around 48300 and an upside resistance zone around 48800. Break above 48800 will test 49000+ levels in upcoming sessions. Any weakness will expect on close below 48300 till 48000 levels. Buy-on dips around support will be a good entry for the traders.

Silver - Silver too looks strong and closed on a bullish note on the weekly chart. 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 are trading around the resistance zone…

Nickel - Nickel formed a slightly weak candle on higher levels in the last trading session. Now Nickel has next support around 1540 and upside resistance around 1560. Break and sustain above 1560 will test 1570-1585 levels in upcoming sessions. Major weakness will expect on a daily close below 1540 levels.

Copper - Copper looks good on the charts and is ready for the fresh breakout. Now Copper has next support around 734 and upside resistance around 745. Break below 734 will test 730-726 levels in upcoming sessions. A fresh bull run may expect on close above 745 levels.

Zinc - Zinc closed on a weak note in the last trading session. Now Zinc has the next resistance around 287 and next support around 280 levels. Break and sustain below 280 will test 278-276 levels again. Fresh upside will expect on close above 287 levels till 290+ levels.

The energy segment is trading around major support zone...

Natural Gas - Natural Gas is trading around its major support zone. Now Natural Gas has major support around 275 and upside resistance around 290. Any close below 275 will test 268-260 levels in upcoming sessions. Fresh upside reversal will expect on sustain above 290 levels.

Crude Oil - Crude Oil has given a weak closing near the support zone in the last trading session. Now Crude Oil has near support around 5300 and near resistance around 5500 levels. Either side breakout will decide further move in upcoming sessions. Break and an hourly close below 5300 will test 5240-5180 levels in upcoming sessions.

Weekly Top Pick

Sell Crude Oil below 5300. SL-5450. Target-5190-5150. *T&C Apply...