Energy segment crashed and Metals are ready for big move...

DAILY MCX BULLETIN ON 01 DEC 2021

Bullions are trading around crucial supports…

Gold Feb - Gold was unable to sustain at upper levels and crashed vertically in the last trading session. Now Gold has next major support around 47500 and upside resistance around 48350. An hourly close below 47500 will test 47300-47000 levels. Sell on the rise around 48100 will be a good trading strategy for the day.

Silver March - Silver too closed on a weak note in the last trading session. Now Silver has near and major support around 62000 and upside resistance around 63500 levels. If unable to breach its support then we will expect it to test upside resistance for the day. A daily close below 62000 will test 61200-60800 levels in upcoming sessions. Fresh upside move will expect on close above 63500 levels till 65000 levels.

Metals look weak on the charts…

Nickel - Nickel was unable to breach its resistance and fall sharply in the last trading session. Now Nickel has near support around 1540 and upside resistance around 1570. Sell on rise will be a good entry for the traders.

Copper - Copper broke its support and achieved our downside targets in the last trading session. Now Copper has next support around 720 and upside resistance around 740. Sell on rise near resistance will be a good bet for the day.

Zinc - Zinc too performed well as per expectations in the last trading session. Now Zinc has the next resistance around 276 and next support around 269 levels. Break below 269 will test 267-265 levels in the upcoming session.

Energy segment crashed vertically...

Natural Gas - Natural Gas crashed drastically and successfully achieved our downside targets in the last trading session. Now Natural Gas has near support around 340 and upside resistance around 365. Again sell on rise will be a good entry for the traders.

Crude Oil - Crude Oil is in a free-fall mode and closed below major support in the last trading session. Now Crude Oil has near support around 4800 and near resistance around 5100 levels. Again sell on the rise will be a good selling opportunity for the traders. Break below 4800 will test 4700-4650 levels.

Daily Top Pick

Risky Buy Silver above 62500. SL-62000. Target-62900-63200. *T&C Apply...