Bullions Still look dull and Crude Shines Again...

DAILY MCX BULLETIN FOR 23 FEBRUARY 2024

Bullions Still looks dull on charts...

Gold - Gold was unable to hold the positive momentum and closed on a weak note in the last trading session. Now Gold has near support around 61900 and upside resistance around 62250. Break and sustain above 62250 will take it towards 62350 and then to 62500 levels. Traders can trade with levels only.

Silver- Silver again slipped below the support and closed on a weak note in the last trading session. Silver has near support around 69900 and upside resistance around 70700 levels. Break and sustain above 70700 will expect an upside move till 71000-71300 levels.

Metals Still look shiny…

Zinc- Zinc sustaining above the crucial support level on the daily chart. Now Zinc has near support around 212 and upside resistance around 215. Break above 215 will test 217 and then to 218 levels.

Copper - Copper still looks solid and ready for the fresh bull run on the daily chart. Now Copper has next support around 722 and upside resistance around 728 levels. Break and sustain above 728 will test 732-735 levels for the day. Buy on dips around support will be the best strategy for the traders.

Crude Oil Again Shines…

Natural Gas - Natural Gas again slipped and closed on a weak note on the daily chart. Now Natural Gas has major support around 138 and upside resistance around 144. Break and sustain above 144 will test 149-152 levels for the day.

Crude Oil - Crude Oil again jumped and is ready for the fresh bull run on the daily chart. Now Crude Oil has near support around 6450 and near resistance around 6580 levels. Break above 6580 will test 6640-6680 levels. Buy on dips around support will be a good strategy for the traders.

Daily Top Pick (23/02/2024)

Buy Zinc above 215 for the upside target of 217.50 and then to 219. Stop loss below 212.50.

*T&C Apply…