Metals and Energy Segment looks Bright on the Charts.

_DAILY MCX BULLETIN 04 AUG 2023_

Gold unable to breach its major support…

Gold- Gold unable to breach its crucial support level and closed above the same in the last trading session. Now Gold has major support around 59300 and upside resistance around 59550. A break above 59550 could lead to 59700 and further gains up to 59800, while weakness may occur below 59300.

Silver- Silver again crashed and closed around the major support in the last trading session. Now Silver has immediate support at 71800 and resistance at 72800. An hourly close above 72800 could test 73400 and potentially reach 73800+, but further weakness may emerge below 71800.

Metals bounced from the lower levels…

Copper- Copper bounced sharply and recovered all intraday losses in the last trading session. Now Copper has near support around 734 and upside hurdle around 745. Traders can consider buying on dips around 739 with a potential upside move towards 750-754.

Lead- Lead is moving in a narrow range and closed on a flat note in the last trading session. Now next crucial resitance around 185 and support around 183. A break and sustain above 185 might lead to 187-189 levels in the upcoming sessions.

Zinc- Zinc too recovered well from the lower levels and closed in the green. Now near support at 218 and resistance at 224. Crossing 224 could test 226+ levels for the day.

Crude Oil again looks Bullish on the Charts...

Natural Gas- Natural Gas took the support from the crucial level. Natural Gas has support at 208 and resistance at 216. A break above 216 could lead to 220-224 levels, and further gains are possible if it closes above 224.

Crude Oil - Crude Oil jumped again and closed on a bullish note in the last trading session. Now Crude Oil has near support around 6500 and upside resistance around 6780. Buying on dips around support could be a favorable entry, while a close above 6780 might test 6840-6880 level.

Daily Top Pick

Buy Zinc on dips around 222. Stop loss below 219. Target-225-226.

*T&C Apply...