Bullions shows some positive signs...

DAILY MCX BULLETIN FOR 18 AUGUST 2023

Bullions trying to form a base at current levels…

Gold - Gold is moving around the major support zone and closed on a negative note in the last trading session. Now Gold has next support around 58200 and upside resistance around 58700. Break and close below 58700 will take it towards 58900 and then to 59000 levels.

Silver - Silver trying to enter in the positive zone and looks good for the upside move on the daily chart. Now Silver has near support around 69800 and upside resistance around 70500 levels. Break and a daily close above 70500 will expect an upside till 70900-71200 levels.

Metals are moving around the crucial support zone…

Zinc - Zinc is forming a base at the current levels and we will expect a sharp bounce in the upcoming trading session. Now Zinc has near support around 208 and upside resistance around 212. Break above 212 will test 215 levels and further upside move will expect above 215 levels.

Copper - Copper still holds the crucial support level and closed above the same in the last trading session. Now Copper has next support around 720 and upside resistance around 728 levels. Now fresh upside will expect on close above 728 levels for the upside target of 735.

Crude Oil again looks positive in the Energy Segment…

Natural Gas - Natural Gas formed a green candle in the last trading session. Now Natural Gas has near support around 216 and upside resistance around 222. Break above 222 will test 226+ levels. Further upside move will expect on a daily close above 226 levels.

Crude Oil - Crude Oil witnessed a positive move in the last trading session. Now Crude Oil has near support around 6580 and near resistance around 6750 levels. Break above 6750 will test 6820 and then to 6860 levels.

Daily Top Pick

Buy Natural Gas above 222. Stop loss below 217. Target- 227-230.

*T&C Apply…