Metals are trading in a bearish zone and Bullions are stuck in a range...

DAILY MCX BULLETIN FOR 27 JUNE 2022

Bullions are stuck in a range…

Gold - Gold has given a sharp dull move in the last trading session. Now Gold has near support around 50400 and upside resistance around 51000. Break and a daily close above 51000 will test 51400-51600 levels. A fresh downside move will expect on a break below 50400 levels till 50200-50000 levels.

Silver - Silver has given a both-side move in the last trading session. Now Silver has major support around 58500 and upside resistance around 60500 levels. An hourly close above 60500 will see a fresh upside move till 61000-61300 levels. Major fall will expect on close below 58500 levels till 57600-57000 levels.

Metals are trading around lower levels…

Zinc - Zinc crashed sharply in the last trading session. Now Zinc has near support around 290 and upside resistance around 305. Break and sustain above 305 will test 308-311 levels. An hourly close below 290 will test 286-284 levels in upcoming sessions.

Copper - Copper has given a weak candle in the last trading session. Now Copper has next support around 680 and upside resistance around 710 levels. Break and sustain above 710 will see any upside reversal for the near term. If close below 680 then it will test 670-665 levels.

Aluminium - Aluminium is trading around a major support zone. Now Aluminium has near support around 205 and near resistance around 212 levels. Break and sustain above 212 will test 215-217 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 Doji on lower levels in the last trading session. Now Natural Gas has near support around 480 and upside resistance around 505. The fresh positive move will expect on close above 505 levels till 515-525 levels. A daily close below 480 will see a sharp fall till 465-455 levels.

Crude Oil - Crude Oil is closed on a dicey note on a weekly basis. Now Crude Oil has near support around 8100 and near resistance around 8500 levels. An hourly close above 8500 will take it towards 8650-8700 levels in upcoming sessions. On the other side, if sustain below 8100 then it will test downside targets of 8000-7800 levels in upcoming sessions.

Daily Top Pick

Sell Crude Oil below 8200. SL-8400. Target-8000-7900. *T&C Apply...