Bulls are on the front foot in Bullions and Energy...

WEEKLY MCX BULLETIN 18 APRIL TO 22 APRIL 2022

Bullions are trading in a bullish zone…

Gold - Gold formed a positive pattern in the last trading session. Now Gold has near support around 52700 and upside resistance around 53200. Break and sustain above 53200 will test 53500-53800 levels. Any downside move will expect on a break below 51600 levels till 51400 levels.

Silver - Silver has given a positive close on the weekly chart in the last trading session. Now Silver has major support around 68500 and upside resistance around 69700 levels. An hourly close above 69700 will see a fresh upside move till 70200-70600 levels. Buy on dips around support will be a good entry for the traders.

Metals look positive for the day…

Zinc - Zinc recovered well from lower levels in the last trading sessions. Now Zinc has near support around 368 and upside resistance around 376. Break and sustain above 376 will test 379 levels and fresh bull move will expect above 380 till 384-386 levels in upcoming sessions.

Copper - Copper looks good for the range breakout on the charts. Now Copper has next support around 815 and upside resistance around 828 levels. An hourly close above 828 then it will test 833-838 levels in upcoming sessions. Any weakness will expect on close below 815 levels till the 808-800 mark.

Aluminium - Aluminium is taking support at lower levels and formed a green candle in the last trading session. Now Aluminium has near support around 266 and near resistance around 272 levels. Break and sustain below 272 will test 275-278 levels in upcoming sessions.

Energy Segment is in the blue sky zone...

Natural Gas - Natural has trading in uncharted territory and closed on a bullish note in the last trading session. Now Natural Gas has near support around 540 and upside resistance around 565. The fresh positive move will expect on close above 565 levels till 575+ levels. Buy on dips around support will be a good entry for the traders.

Crude Oil - Crude still trading in a bullish zone and closed above a major hurdle in the last trading session. Now Crude Oil has near support around 7800 and near resistance around 8200 levels. An hourly close above 8200 will take it towards 8320-8410 levels in upcoming sessions. On the other side, if sustain below 7800 then it will test downside targets of 7680-7650 levels in upcoming sessions.

Weekly Top Pick

Buy Copper above 825. SL-818. Target-831-835. *T&C Apply...