Bullions stuck in a tight range and Metals still looks good...

DAILY MCX BULLETIN FOR 20 JULY 2022

Bullions stuck in a narrow range…

Gold - Gold is trading in a tight range and closed on a flat note in the last trading session. Now Gold has near support around 50000 and upside resistance around 50500. Either side breakout will decide further move in upcoming sessions.

Silver - Silver stuck in a narrow range and closed on a dull note in the last trading session. Now Silver has major support around 55500 and upside resistance around 56400 levels. Break above 56400 will see an upside move till 56800-57000 levels.

Metals still look positive on the charts…

Zinc - Zinc recovered well from lower levels in the last trading session. Now Zinc has near support around 269 and upside resistance around 275. Break and sustain above 275 will test 277-280 levels. An hourly close below 269 will test 267-265 levels in upcoming sessions.

Copper - Copper formed a Doji candle in the last trading session. Now Copper has next support around 618 and upside resistance around 628 levels. Break and sustain above 628 will test 633-636 levels in the near term.

Aluminium - Aluminium has given a weak move in the last trading session. Now Aluminium has near support around 206 and near resistance around 210 levels. Break and sustain above 210 will test 212-214 levels in upcoming sessions.

Energy Segment looks mixed on the charts...

Natural Gas - Natural Gas falls from the higher levels in the last trading session. Now Natural Gas has near support around 575 and upside resistance around 595. Break above 595 will test 604-612 levels. If close below 575 then it will test 568-560 levels.

Crude Oil - Crude Oil performed well as per our expectations in the last trading session. Now Crude Oil has near support around 7850 and near resistance around 8120 levels. An hourly close above 8120 will take it towards 8220-8280 levels in upcoming sessions. On the other side, if sustain below 7850 then it will test downside targets of 7720-7650 levels in upcoming sessions.

Daily Top Pick

Sell NG below 575. SL-585. Target-566-555.

*T&C Apply...