Commodities are trading on a mixed note, One Commodity trades higher...

DAILY MCX BULLETIN FOR 28 AUGUST 2023

Bullions are moving with a positive bias…

Gold - Gold again took the support from the crucial level and bounced back in the last trading session.

Now Gold has near support around 58500 and upside resistance around 58900. Break and close above 58900 will take it towards 59050 and then to 59200 levels.

Silver - Silver continues its bull run and still looks good on the charts. Now Silver has near support around 73200 and upside resistance around 73900 levels. Break and sustain above 73900 will expect an upside move till 74350-74600 levels.

A small correction witnessed in Metals …

Zinc - Zinc performed well and achieved our upside targets in the last trading session. Now Zinc has near support around 212 and upside resistance around 215. Break above 21 will test 217+ levels. Buy on dips around support will be a good entry for the traders.

Copper - Copper again dragged and closed around the support level in the last trading session. Now Copper has next support around 728 and upside resistance around 735 levels. Break and sustain above 735 will see an upside move till 740-742 levels in days to come.

Energy Segment looks bright…

Natural Gas - Natural Gas closed on a flat note in the last trading session. Now Natural Gas has near support around 205 and upside resistance around 212. Break above 212 will test 216 levels. Fresh bull run will expect on close above 216 levels.

Crude Oil - Crude Oil erased all intraday gains and managed to close above the support level in the last trading session. Now Crude Oil has near support around 6450 and near resistance around 6600 levels. Break above 6620 will test 6650 and then to 6720 levels.

Daily Top Pick (28/08/2023)

Buy Natural Gas above 212. Stop loss below 207. Target- 217-220.

*T&C Apply…