Volatility Grips MCX! Bullions Under Pressure, Metals and Energy Set for Action

📈 Daily Mcx Bulletin — 24th july 2025

Global Cues

Today’s MCX action is expected to stay choppy as traders eye global data like US Existing Home Sales and Jobless, which may shake up bullion sentiment through dollar volatility. Base metals remain in focus with China's industrial momentum and supply cues influencing direction.

🟡 Gold Update:

Gold slipped sharply from higher levels in the previous session and remains weak on the charts. Now, support lies at ₹98,700—a break below this could drag prices towards ₹98,400–₹98,000.

Upside is capped near ₹99,250, and only a breakout above this can trigger a bounce back to ₹99,600 levels.

⚪ Silver Update:

Silver has cooled off from its all-time highs and is showing mild bearish bias for the day. Expect higher volatility as global factors unfold.

Immediate support stands at ₹1,14,400, while fresh upside will only trigger above ₹1,15,800, opening targets toward ₹1,16,300+.

🔴 Copper Update:

Copper continues to perform exactly as projected, hitting our targets steadily. Support is now firm at ₹898, and a breakout above ₹902 can lead to a rally towards ₹907–910.

Short-term trend remains bullish with tight range breakout expected soon.

🛢️ Crude Oil Update:

Crude took a bounce from crucial support near ₹5,620, keeping bulls active. Sustaining above this zone could lead to fresh momentum towards ₹5,780–5,850+.

However, a breach below ₹5,620 may drag prices back to ₹5,560. Traders should watch for hourly candle confirmation for clarity.

🔵 Natural Gas Update:

Natural Gas is showing some positiveness at lower levels and we will expect some bounce. It has support around ₹260, and any dip below this may intensify the decline.

Only above ₹272 can we expect a reversal towards ₹278–282. Intraday bias stays positive.

🌟 Top Pick of the Day – Crude Oil Futures

🔹 Buy around ₹5680

🔹 Stop Loss: ₹5610

🔹 Target: ₹5770 – ₹5820

Copper shows strong momentum near breakout levels — a great intraday opportunity!

📊 Stay tuned as volatility is expected to rise post-US data. Focus on precision entry levels and risk management for best results!