Bullions Shines Again and Crude Again Feels Pressure...

Daily MCX Bulletin

Gold

Gold has climbed to a two-week high as of today amid a weakening U.S. dollar. Resistance around 101200, break and sustain above this level will expect upside move till 101500-101800 mark. On the other side, support around 100600, break below this level will see downside move till 100200 mark.

Silver

Silver almost test all time high as of dovish signals from Fed Chair Powell. Resistance around 116800, break and sustain above this level will see fresh highs. Key support around 115500, break below this level will see a downside move till 114700-114000 mark.

Copper

Metals are marginally above, suggesting stable sentiment with minor price pressure. Resistance around 885, break above this level will test 890 mark. On the Other side support around 878, break below this level will see a downside move till 875 mark.

Crude Oil

Crude Oil markets are navigating renewed concerns over supply disruptions amid escalating conflict between Russia and Ukraine. Support around 5580, break below this level will test 5500 mark. On the other side resistance around 5700, break and sustain above this level will see upside move till 5760-5800 mark.

Natural Gas

Natural Gas prices remain soft. Support around 230, break below will see more downside move around 224 mark. On the other side resistance around 236, break and sustain above this level will expect short covering move till 245+ mark.

Top Pick

Sell Gold around 100950. Stop loss above 100300.