Updates on Bullion, Base Metals, and Energy Levels 11th Feb 2020
11/2/2020

Updates on Bullion, Base Metals, and Energy Levels 11th Feb 2020

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Gold slipped on Tuesday due to a stronger dollar and uptick in equities as China's factories slowly return to work amid rising death toll from the coronavirus epidemic. On the other hand, Crude inched up amidst the news that China's factories slowly returning to work but remained cautious over the Wuhan virus that has now killed over 1,000 in China.


No Major Economic Data for the Day.


Technical Levels


Gold (April)

Image result for Gold

Support at 40350 and Resistance at 40600.

Break and close below 40350 will take it up to 40100---39900 levels in coming days or else it can test its resistance level of 40600.

Fresh buying will do on a close above 40600.

Traders can sell it on the rise!!

Trade with the levels only.



Silver (March)

Image result for Silver

Support is at 45850 and resistance is at 46200.

Break and sustain below 45850 will take it to 45500—45300 or else it could test its resistance again. 

Fresh buying will do on a close above 46200.

Trade with the levels only.



Crude Oil (Dec)

Image result for Crude Oil

 Support at 3550 and resistance at 3620. 

Trade within the range and wait for the confirmation.



Natural Gas (Feb)

Image result for Natural Gas

Support at 125 and resistance at 130.

Break and sustain below 125 will take it 120—118 or else it could test its resistance again.

Fresh buying will do on a close above 130.

Trade with the levels only.



Copper (Feb)

Image result for Copper

Support at 431 and Resistance at 433.50.

Break and sustain above 433.50 will take it 436.50—438 or else it could test its support again.

Fresh selling will do on a close below 431.

Trade with the levels only.



Zinc mini (Feb)

Image result for Zinc

Support at 166 and Resistance at 169.

If Zinc mini holds its support level of 166 then we can expect upside move above 169 till 172—174 or else it tests its support level again.

Trade with the levels only.





More will update soon...


To know more about MCX levels

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

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