Updates on Bullion, Base Metals, and Energy Levels ( 10th Feb 2020)
10/2/2020

Updates on Bullion, Base Metals, and Energy Levels ( 10th Feb 2020)

Share:

Gold prices held steady on Monday as rising concerns over the severity of the coronavirus outbreak offset a slight reprieve for equities after China eased some work and travel restrictions. On the other hand, Crude oil traded lower but held in a range as traders are waiting for the clarification as opec+ members are preparing to cut the further output of Crude oil to balance markets demand and supply amidst weak demand of Crude oil due to the outbreak of coronavirus in China.


No major economic data for the Day.




Technical Levels


Gold (April)

Image result for Gold

Support at 40500 and Resistance at 40750.

Break and close above 40750 will take it up to 41000---41200 levels in coming days or else it can come down to touch its support level of 40500 again

Fresh selling will do on a close below 40500.

Trade with the levels only.



Silver (March)

Image result for Silver

Support is at 46000 and resistance is at 46400.

Break and sustain above 46400 will take it to 46900—45300 or else it could test its support again. 

Fresh selling will do on a close below 46400.

Trade with the levels only.



Crude Oil (Dec)

Image result for Crude Oil

 Support at 3550 and resistance at 3675. 

If it will be unable to break and sustain below 3550, then we can expect an upside move till its resistance level of 3675 again.

Above 3675, we can see an upside move till 3740---3800 levels.

The major trend is weak, trade with a confirmation.

Trade with levels only.



Natural Gas (Feb)

Image result for Natural Gas

Support at 125 and resistance at 134.

The natural gas trend is negative and likely to touch its support level of 125. 

Traders can sell Natural Gas on the rise around 129—130. 

Resistance and stop loss will remain above 134.

Trade with the levels only.

 

Copper (Feb)

Image result for Copper

Support at 430 and Resistance at 433.

Break and sustain below 430 will take it 427—425 or else it could test its resistance again.

Fresh buying will do on a close above 433.

Trade with the levels only.



Alumini (Feb)

Image result for aluminium

Support at 136 and Resistance at 138.

Alumini looks negative till 134—133 or else it could test its resistance level of 138.

Traders can sell Alumini on rising around 136.50—137 for downside targets as mentioned above.

Resistance and stop loss will remain above 138.

Trade with the levels only. 



More will update soon...

Share:

Tags:Gold & Silver, Basemetal, Crude & Natural Gas, Full MCX

Join our WhatsApp broadcast list
I agree terms and conditions.