Gold prices at MCX have broken the crucial upside regions 22630-750, where it had taken resistance multiple times for the day, while above same we expect to accelerate the bullish momentum towards 22880/990 initially followed by 23400/500 levels later. However a corrective turn lower from 28880 if turn up would stretch the momentum till 22450/330 levels, where the strong supports placed. Copper MCX day’s bias is positive and noticed above 434. However, for the day we expect a minor lower correction towards 432-433 region before initiating a fresh rally towards 439 followed by 444 levels for the day. However, on the lower side, prices have break below 427 to trigger sell off in the near term.
MCX Technicals For Today
GOLD MCX (AUG)
TREND: Upward
Near Term: Uptrend
R3 23423/23503
R2 23204/272/382
R1 22882/23004
Pivot 22794
S1 22680/521/404
S2 22240/180/052
S3 21920/653
COPPER MCX (AUG)
TREND: Consolidate
Near Term: Upwadrs
R3 447/451/546
R2 442/444.50
R1 438/444
Pivot 438
S1 434/427.50/424
S2 423/418/411.50
S3 409/401
CRUDE OIL MCX (JUL)
TREND: Consolidate
R3 4720/5010
R2 4452/4578
R1 4393-4412
Pivot 4346
S1 4320/4273/4192
S2 4160/4060/3973
S3 3900/3862
