Bullions looks Solid while Metals Still looks Weak.

DAILY MCX BULLETIN FOR 02 FEBRUARY 2023

Bullions looks bullish on the charts…

Gold - Gold is trading around the fresh highs and closed on a bullish note in the last trading session. Now Gold has near support around 57400 and upside resistance around 58000. Break above 58000 will test 58200-58400 levels for the day.

Silver - Silver looks solid on the charts and ready for the fresh run. Now Silver has major support around 69000 and upside resistance around 70200 levels. Break above 70200 will see an upside move till 70800-71400 levels.

Metals still looks slightly bearish on the charts…

Zinc - zinc successfully achieved our downside targets in the last trading session. Now Zinc has near support around 288 and upside resistance around 295. Break and sustain below 288 will test 285-284 levels. Sell on rise around 294 will be a good entry for the traders.

Copper - Copper still trading on a slightly weak note and closed around the lower levels in the last trading session. Now Copper has next support around 777 and upside resistance around 788 levels. Break and sustain above 788 will test 794-798 levels in the near term.

Aluminium - Aluminium recovered well from the lower levels in the last trading session. Now Aluminium has near support around 222 and near resistance around 226 levels. Break and sustain below 226 will test 228-230 levels in upcoming sessions.

Energy Segment still trading on a weak note...

Natural Gas - Bloodbath continues in the last trading session. Now Natural Gas has near support around 208 and upside resistance around 217. Break above 217 will test 222-225 levels.

Crude Oil - Crude Oil crashed after the inventory in the last trading session. Now Crude Oil has near support around 6250 and near resistance around 6380 levels. An hourly close below 6250 will take it towards 6180-6140 levels in upcoming sessions. On the other side, if sustain above 6380 then it will test upside levels of 6450 levels in upcoming sessions.

Daily Top Pick

Buy Silver above 70200. SL-69500. Target-70800-71400.