Bullions looks weak and metals in mixed mood...

WEEKLY MCX BULLETIN FROM 4 TO 8 APRIL 2022

Bullions again look weak on the charts…

Gold - Gold looks weak and closed on a weak note in the last trading session. Now Gold has near support around 51400 and upside resistance around 52000. Break and sustain below 51400 will test 51200-51000 levels. Any fresh upside move will expect on a break above 52000 levels till 52300 levels.

Silver - Silver looks weak and closed on a support level on the charts. Now Silver has major support around 66000 and upside resistance around 68500 levels. A fresh upside move will expect on close above 68500 levels till 70000 levels. Major weakness will expect on close below 66000 levels till 65000-64500 levels.

Metals look mixed on the charts…

Zinc - Zinc skyrocketed in the last trading sessions. Now Zinc has near support around 348 and upside resistance around 358. Buy on dips around support will be a good entry for the traders. If able to sustain below 348 then it will test 345-342 levels again.

Copper - Copper stuck in a range and closed on a weak note in the last trading session. Now Copper has next support around 810 and upside resistance around 824 levels. If Copper break above 824 then it will test 828-832 levels in upcoming sessions. A fresh bearish move will expect on close above 810 levels till 804-800 levels in upcoming sessions.

Aluminium - Aluminium is trading on support levels and formed a weak candle on the charts. Now Aluminium has near support around 278 and near resistance around 285 levels. Break and sustain below 278 will test 275-273 levels in upcoming sessions.

Energy Segment again looks mixed on charts...

Natural Gas - Natural Gas performed well as per our expectations in the last trading session. Now Natural Gas has near support around 420 and upside resistance around 444. The fresh positive move will expect on close above 444 levels till 455+ levels.

Crude Oil - Crude again crashed sharply in the last trading session. Now Crude Oil has near support around 7400 and near resistance around 7850 levels. Sell on rise will be a good trading strategy for the day. If Crude Oil is able to close below 7400 then it will test 7250-7100 levels in upcoming sessions.

Weekly Top Pick

Sell Aluminium below 278. SL-282. Target-275-272. *T&C Apply...