Bullions near support and Metals trying for the bounce...

DAILY MCX BULLETIN ON 17 MARCH 2022

Bullions are trading near the support zone…

Gold - Gold is trading around the support zone and closed on a weak zone in the last trading session. Now Gold has near support around 51000 and upside resistance around 51700. Break above 51700 will test 52100-52400 levels in the upcoming session. If Gold is able to hold 51000 then we will expect a bounce till resistance levels.

Silver - Silver trading on lower levels on the charts. Now Silver has near support around 66800 and upside near resistance around 68500 levels. Both levels are crucial for the next trading session. A fresh upside move will expect on close above 68500 levels till 69300-70000 levels.

Metals are trading on a weak note…

Aluminium - Aluminium is trading around major support and closed on a weak note in the last trading sessions. Now Aluminium has near support around 262 and upside resistance around 271. If Aluminium is able to hold its support then we will expect a bounce till resistance levels otherwise it will crash below 262 levels till 259-257 levels.

Copper - Copper has given a slightly positive move in the last trading session. Now Copper has next support around 790 and upside resistance around 802 levels. If copper closes above 802 on an hourly basis then it will test 806-810 levels in upcoming sessions.

Lead - Lead is trading on lower levels and formed a small doji in the last trading session. Now Lead has major resistance around 183 and near support around 181 levels. Break and sustain above 183 will test 185-187 levels in upcoming sessions.

Energy Segment looks mixed on charts...

Natural Gas - Natural Gas has given a positive move in the last trading session. Now Natural Gas has near support around 350 and upside resistance around 365. Break and sustain above 365 will test 370-374 levels in upcoming sessions.

Crude Oil - Crude again crashed and closed on a weak note in the last trading session. Now Crude Oil has near support around 7200 and near resistance around 7550 levels. Break and close below 7200 will test 7050-6900 levels.

Daily Top Pick

Buy Lead above 183. SL-181. Target-185-187. *T&C Apply...