Metals Looks Bright and Crude Oil Moves in Bullish Zone...

DAILY MCX BULLETIN FOR 26 JULY 2023

Bullions closed on a slightly positive note…

Gold - Gold looks good on the charts on the lower levels and closed in the green in the last trading session. Now Gold has intraday support around 58900 and upside resistance around 59300. Break and sustain above 59300 will test 59300 and then to 59500-59750 levels in the upcoming trading sessions.

Silver - Silver performed well as per our expectations in the last trading session. Now Silver has near support around 74300 and upside resistance around 75000 levels. Break above 75000 will see an upside move till 75500-75800 levels. Any negative move will expect on close below 74200 levels.

Metals look shiny on the charts…

Zinc - Zinc bounced well and closed on a bullish note in the last trading session. Now Zinc has near support around 215 and upside resistance around 220. Break and sustain above 220 will test 223-225 levels.

Copper - Copper broke its crucial hurdle and closed above the same in the last trading session. Now Copper has next support around 730 and upside resistance around 744 levels. Break and sustain above 744 will test 750-760 levels in the near term. Buy on dips around support will be a good opportunity for the intraday traders.

Aluminium - Aluminium trying to enter in a positive territory and closed around the crucial level in the last trading session. Now Aluminium has near support around 197 and near resistance around 200 levels. Break and sustain above 200 will test 203-205 levels in upcoming sessions.

Crude Oil is on Fire in Energy Segment...

Natural Gas - Natural Gas is forming a strong base around the major support level. Now Natural Gas has near support around 218 and upside resistance around 225. Break above 225 will test 230-234 levels.

Crude Oil - Crude Oil recovered all intraday losses and closed with healthy gains in the last trading session. Now Crude Oil has near support around 6420 and near resistance around 6550 levels. An hourly close below 6550 will take it towards 6600+ levels in upcoming sessions. Buy on any sharp dip will be a good entry for the traders.

Daily Top Pick

Buy Aluminium August around 199. SL-197. Target-202-204

*T&C Apply…