Volatility May Expect at Higher Levels, Trade Cautiously...

Daily MCX Bulletin

Gold

Gold hits record high but faces volatility. Support around 108700, break below this level will see sharp profit booking till 108300-108000 mark. Resistance around 109200, further upside move will be expected above till 109600-110000 mark.

Silver

Silver is trading around all time high as expectations of a U.S. interest rate cut and strong industrial demand. Support around 124500 and resistance around 125300 break below 124500 level will see sharp profit booking till 123600 mark.

Copper

Copper looks stable and trade in a range. Resistance around 906, break above this level will see upside move till 910-914 mark. On the Other side, support around 898, break below this level will see a downside move till 894 mark.

Crude Oil

Crude Oil prices initially spiked following Israel’s airstrike targeting Hamas leadership in Qatar. Support around 5540, break below this level will test 5480-5430 mark. On the other side, resistance around 5620, break and sustain above this level will see upside move till 5680-5730 mark.

Natural Gas

Natural Gas is moving in a range, now support around 269, break below will see more downside move around the 264-260 mark. On the other side, resistance around 277, break and sustain above this level will expect a fresh upside move till 282-288 mark.

Top Pick

Sell Gold below 108700. Stop loss above 109100. Target-108400-108200.