Commodities are Moving in range But One Commodity moves Higher...

DAILY MCX BULLETIN FOR 01 SEPTEMBER 2023

Bullions are taking rest at higer levels…

Gold - Profit booking witnessed from the higher levels in the last trading session.

Now Gold has near support around 59300 and upside resistance around 59550. Break and close above 59550 will take it towards 59700 and then to 59800 levels.

Silver Dec- Silver too slipped from the higher levels. Now Silver has major support around 75000 and upside resistance around 76000 levels. Break and sustain above 76000 will expect an upside move till 76350-76600 levels. Buy on dips around support will be a good entry for the traders.

A range bounce session witnessed in Metals …

Zinc- Zinc still looks positive on the charts and closed in a positive zone in the last trading session. Now Zinc has near support around 216 and upside resistance around 218. Break above 218 will test 220 levels. Buy on dips around support will be a good entry for the traders.

Copper - Copper trading in a small range and closed around the support level in the last trading session. Now Copper has next support around 732 and upside resistance around 738 levels. Break and sustain above 738 will see an upside move till 742 levels in days to come.

Crude Oil on Fire in Energy Segment…

Natural Gas - Natural Gas too performed well and achieved our intraday targets in the last trading session. Now Natural Gas has near support around 228 and upside resistance around 238. Break above 238 will test 243-245 levels. Fresh bull run will expect on close above 245 levels.

Crude Oil - Crude Oil skyrocketed and closed on a bullish zone in the last trading session. Now Crude Oil has near support around 6800 and near resistance around 6920 levels. Break above 6920 will test 7000 and then to 7070 levels.

Daily Top Pick (01/09/2023)

Buy Crude Oil on dips around 6800. Stop loss below 6740. Target- 6910-6950.

*T&C Apply…