The weekly start will expect on a weak note in all segments...

WEEKLY MCX BULLETIN 25 APRIL TO 29 APRIL 2022

Bullions are trading in a bearish zone…

Gold - Gold formed a bearish pattern in the last trading session. Now Gold has near support around 52000 and upside resistance around 52700. Break and sustain above 52700 will test 53000-53200 levels. Fresh downside move will expect on a break below 52000 levels till 51800-51600 levels.

Silver - Silver has given a positive close on the weekly chart in the last trading session. Now Silver has major support around 65800 and upside resistance around 67000 levels. An hourly close above 67000 will see a fresh upside move till 67400-67800 levels. Major fall will expect on close below 65800 levels till 65200-64800 levels.

Metals look mixed for the day…

Zinc - Zinc managed to close on a positive note in the last trading sessions. Now Zinc has near support around 370 and upside resistance around 378. Break and sustain above 378 will test 382-385 levels. An hourly close below 370 will test 367-365 levels in upcoming sessions.

Copper - Copper has given a major breakdown in the last trading session. Now Copper has next support around 805 and upside resistance around 815 levels. A daily close below 802 then it will test 795-790 levels in upcoming sessions. Sell on rise around resistance will be a good opportunity for the traders.

Aluminium - Aluminium stuck in a narrow range and closed on a dicey note in the last trading session. Now Aluminium has near support around 266 and near resistance around 273 levels. Break and sustain below 272 will test 275-278 levels in upcoming sessions. Major weakness will expect on close below 266 till 263-260 levels.

Energy Segment looks weak on the charts...

Natural Gas - Natural Gas looks weak and closed on a negative note in the last trading session. Now Natural Gas has near support around 505 and upside resistance around 525. The fresh positive move will expect on close above 525 levels till 535+ levels. A daily close below 505 will see a sharp fall to 496-490 levels.

Crude Oil - Crude trading in a range and closed on a slightly weak note in the last trading session. Now Crude Oil has near support around 7750 and near resistance around 7950 levels. An hourly close above 7950 will take it towards 8020-8080 levels in upcoming sessions. On the other side, if sustain below 7750 then it will test downside targets of 7660-7600 levels in upcoming sessions.

Weekly Top Pick

Sell Copper around 812. SL-818. Target-805-800. *T&C Apply...