Gold turns positive and Metals are still trading in a bearish zone...

DAILY MCX BULLETIN FOR 4 JULY 2022

Gold skyrocketed in Bullions…

Gold - Gold has given a sharp upside move in the last trading session. Now Gold has near support around 51300 and upside resistance around 52200. Break and a daily close above 52200 will see a fresh upside level till 52500-52800 levels. Fresh downside move will expect on break below 51300 levels till 51000-50800 levels.

Silver - Silver unable to perform and closed on a weak note in the last trading session. Now Silver has major support around 57000 and upside resistance around 59000 levels. Either side breakout will decide further move in upcoming trading sessions.

Metals are trading in a bearish trend…

Zinc - Zinc again crashed sharply in the last trading session. Now Zinc has near support around 272 and an upside resistance around 280. Break and sustain above 280 will test 283-285 levels. An hourly close below 272 will test 268-266 levels in upcoming sessions.

Copper - Copper has given a sharp breakdown in the last trading session. Now Copper has next support around 670 and upside resistance around 690 levels. Break and sustain above 690 will see any upside till 694-698 levels. If close below 670 then it will test 663-658 levels.

Aluminium- Aluminium bounced from major support zone. Now Aluminium has near support around 206 and near resistance around 213 levels. Break and sustain above 213 will test 216-218 levels in upcoming sessions. Fresh weakness will expect on close below 205 levels.

Energy Segment looks mixed on the charts...

Natural Gas - Natural Gas formed a weak pattern on lower levels in the last trading session. Now Natural Gas has near support around 440 and upside resistance around 460. Fresh positive move will expect on close above 460 levels tilll 472-480 levels. A daily close below 440 will see a sharp fall till 432-425 levels.

Crude Oil - Crude Oil closed on a positive note in the last trading session. Now Crude Oil has near support around 8400 and near resistance around 8700 levels. An hourly close above 8700 will take it towards 8830-8900 levels in upcoming sessions. On the other side, if sustain below 8400 then it will test downside targets of 8260-8200 levels in upcoming sessions.

Daily Top Pick

Buy Gold above 52050. SL-51800. Target-52240-52350.