Metals and Energy Segment looks Good from lower levels.

DAILY MCX BULLETIN FOR 08 FEBRUARY 2023

Gold shines again and Silver is taking good support…

Gold - Gold performed well in the last trading session. Now Gold has intraday support around 56900 and upside resistance around 57400. Break below 56900 will test 56700 and then to 56500 levels in the upcoming trading sessions.

Silver - Silver is taking support at lower levels and formed a reversal candle in the last trading session. Now Silver has near support around 67000 and upside resistance around 67800 levels. Break above 67800 will see an upside move till 68200-68500 levels. A daily close below 67000 will test 66600-66400 levels.

Metals bounced sharply in the last session…

Zinc - Zinc took the support at lower levels and bounced sharply in the last trading session. Now Zinc has near support around 276 and upside resistance around 285. Break and sustain above 285 will test 288-290 levels. Buy on dips around 280 will be a good entry for the traders.

Copper - Copper took the support at crucial level and closed on a positive note. Now Copper has next support around 766 and upside resistance around 777 levels. Break and sustain above 777 will test 782-785 levels in the near term.

Aluminium - Aluminium closed on a slightly weak note in the last trading session. Now Aluminium has near support around 219 and near resistance around 222 levels. Break and sustain above 222 will test 225 levels in upcoming sessions.

First reversal indication on the charts in the Energy Segment...

Natural Gas - Natural Gas bounced from the oversold zone in the last trading session. Now Natural Gas has near support around 205 and upside resistance around 215. Break above 215 will test 222-225 levels.

Crude Oil - Crude Oil performed well in the last trading session. Now Crude Oil has near support around 6200 and near resistance around 6400 levels. An hourly close below 6200 will take it towards 6100-6000 levels in upcoming sessions. On the other side, if sustain above 6400 then it will test upside levels of 6500 levels in upcoming sessions.

Daily Top Pick

Buy Copper around 774. SL-768. Target-780-785.