MCX Witnesses Mild Profit Booking; Price Action Turns Range-Bound.

Daily MCX Bulletin

Gold

Gold remains elevated, reflecting safe-haven flow amid global uncertainty. Support around 1,59,800, break below this level will see down side move till 1,59,400 mark. Resistance around 160,600, break and sustain above this level will see upside move till 1,61.000 mark.

Silver

Silver futures jumped sharply yesterday on strong demand and low exchange inventories. Support around 2,60.000, break below this level will see downside move till 2,58,000 mark. Resistance around 2,65,000, break and sustain this level will see upside move till 2,67,500 mark.

Copper

Copper continue to benefit from structural demand trends. Resistance around 1214, break above this level will see upside move till 1220 mark. On the Other side, support around 1204, break below this level will see a downside move till 1192 mark.

Crude Oil

Crude Oil price trading in a tight range as US-IRAN tension ease. Support around 5940, break below this level will test 5860 mark. On the other side, resistance around 6020, break and sustain above this level will see upside move till 6100 mark.

Natural Gas

Natural Gas traded in a relatively tight range. Support around 250, break below will see more downside move around the 244 mark. On the other side, resistance around 262, break and sustain above this level will expect a fresh upside move till 270 mark.

Top Pick

Buy Crude Oil around 5960. Stop loss below 5880. Target-6060-6120.