Metals may shine in upcoming sessions...

WEEKLY MCX BULLETIN FROM 07 FEB TO 11 FEB 2022

Bullions looks mixed on the charts…

Gold - Gold trading around support zone and closed on a positive note in the last trading session. Now Gold has near support around 47700 and upside resistance around 48150. Break above 48150 will test 48350-48500 levels in the upcoming session. A negative move will expect on a break below 47700 levels.

Silver - Silver still trading around the weak zone. Now Silver has near support around 60000 and upside near resistance around 62250 levels. Break and sustain above 62250 will test 63000-63400 levels in upcoming sessions. Fresh weakness will come on close below 60000 levels.

Metals look good for a fresh positive move…

Nickel - Nickel looks good and closed on a positive note in the last trading sessions. Now Nickel has near support around 1725 and upside resistance around 1750. Break above 1750 will test 1765-1775 levels in upcoming sessions.

Copper - Copper formed a positive pattern on the daily chart and looks good for the fresh run. Now Copper has next support around 745 and upside near resistance around 762. Break and sustain above 762 will test 768-772 levels in upcoming sessions. Buy-on dips around support will be the best entry for the traders.

Zinc - Zinc looks good for the upside move on the daily chart. Now Zinc has the next resistance around 300 and the next major support around 295 levels. Break and sustain above 300 will test 303+ levels in upcoming sessions.

The energy segment looks mixed on the charts...

Natural Gas - Natural Gas crashed sharply from higher levels and looks weak on the charts. Now Natural Gas has near support around 340 and upside resistance around 370. Break below 340 will test 334-330 levels in upcoming sessions.

Crude Oil - Crude Oil trading around near higher levels of the chart. Now Crude Oil has near support around 6700 and near resistance around 7020 levels. Be cautious at higher levels and try to enter on dips.

Daily Top Pick

Buy Zinc above 300. SL-297. Target-303-305.

*T&C Apply...