MCX Gold, Silver and Copper weekly technical levels

Insignia Consultants

New Delhi

Monday, May 3, 2021 TIME 10:15 AM IST                                      

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MCX Gold, Silver and Copper weekly technical levels

MCX Gold June:  (CMP Rs.47070.00): Support & Resistance: 46416, 47432

MCX Silver July:  (CMP Rs.68878.00): Support & Resistance: 67380. 69613

MCX Copper May: (CMP Rs.757.10): Support & Resistance: 742.50, 777.30

US dollar-Indian Rupee (usd/inr) spot: (CMP Rs.74.2950): Support & Resistance: 73.4850, 74.6350

Factors to watch to this week:

  1. China is closed till 5th May. Trend of base metals after China opens is the important.
  2. US April jobs numbers (ADP, challenger job cuts and Nonfarm payrolls) will be released between Wednesday and Friday.
  3. MCX Gold June will see a technical breakout if it manages to break one hundred day moving average of 47432.
  4. MCX silver July has to trade over one hundred day moving average of 67380 to be in a short term bullish zone.
  5. Momentum is very bullish for copper. Technically overbrought.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading.Website www.insigniaconsultants.in. Prepared by Chintan Karnani. Customer care, whatsapp/telegram 9311139549

Disclosure: Members, employees, directors, clients and all other people associated with “Insignia consultants” do trade in MCX metals and energies. They may or may not have positions on the trading strategies mentioned in this report. They may also have open positions in MCX metals and energies futures in trading strategies other than those mentioned in this report.

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NOTES TO THE ABOVE REPORT

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED

APPROPRIATE STOP LOSSES PER LOT IN INDIAN RUPEEES ON THE TRADING CALLS GIVEN IN THIS REPORTTHE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

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