Bullions looks positive while metals are still in a range...

WEEKLY MCX BULLETIN 11 APRIL TO 14 APRIL 2022

Bullions are trying to enter a bullish zone…

Gold - Gold formed a positive reversal in the last trading session. Now Gold has near support around 51600 and upside resistance around 52250. Break and sustain above 52250 will test 52440-52600 levels. Any fresh downside move will expect on a break below 51600 levels till 51400 levels.

Silver - Silver has given a slightly positive close on the weekly chart in the last trading session. Now Silver has major support around 66200 and upside resistance around 67200 levels. A daily close above 67200 will see a fresh upside move till 67700-68200 levels. Now fresh weakness will expect on close below 66200 levels.

Metals look mixed on the charts…

Zinc - Zinc skyrocketed and closed on a bullish note in the last trading sessions. Now Zinc has near support around 355 and upside resistance around 360. Break and sustain above 360 will test 363 levels and fresh bull move will expect above 363 till 366-370 levels in upcoming sessions.

Copper - Copper is unable to breach its support and finished in the range in the last trading session. Now Copper has next support around 810 and upside resistance around 825 levels. An hourly close above 825 will test 830-834 levels in upcoming sessions. Any weakness will expect on close below 810 levels till the 800 mark.

Aluminium - Aluminium was unable to hold its gains and closed on a weak note in the last trading session. Now Aluminium has near support at around 275 and near resistance around 282 levels. Break and sustain below 275 will test 272-270 levels in upcoming sessions.

Energy Segment looks mixed for the week...

Natural Gas - Natural has formed an inverted hammer in the last trading session. Now Natural Gas has near support around 470 and upside resistance around 495. The fresh positive move will expect on close above 495 levels till 505+ levels. Break below 470 will test 464-458 levels in upcoming sessions.

Crude Oil - Crude still trading in a bearish and closed below major support in the last trading session. Now Crude Oil has near support around 7250 and near resistance around 7450 levels. An hourly close above 7450 will take it towards 7540-7600 levels in upcoming sessions. On the other side, if sustains below 7250 then it will test downside targets of 7120-7050 levels in upcoming sessions.

Weekly Top Pick

Buy Lead above 187. SL-184. Target-190-192. *T&C Apply...