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Official Channel of Indian Market View for Commodities. SEBI Reg. Research Analyst INH000010371 All opinions & views shared here are for Educational Purpose. Kindly consult your financial advisor. Call: 8744868888 www.indianmarketview.com
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š Commodities šŖ Morning Update by IMV (27th May 2024)š®š³āš»
ā Kindly follow our levels carefully š§
āļø Gold (June)š„ has support at 71400 and resistance 71700. Break and sustain below 71400 will take it to the next support level of 71250...71100 and sustainable trade above 71700 can see further upside move towards the next resistance level of 71850ā¦72000
āļø Copper (June)ā has support at 891 and resistance at 897 Sustainable trade above 897 will see the upside move towards 900, 903 and if sustained below 891 can catch the downside move towards 888, 885 respectively.
āļø Crude Oil (June)š¢ has support at 6440 and resistance at 6530. Sustainable trade below 6440 can see more downside toward 6400ā¦6360 and if sustained above 6530 will see the upside move towards 6570ā¦6610 levels.
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Core Durable Goods Orders m/m
Previous: 0.20%
Forecast: 0.10%
Actual: 0.40%
Impact: NEGATIVE
Durable Goods Orders m/m
Previous: 0.80
Forecast: -0.90%
Actual: 0.70%
Impact: SLIGHTLY POSITIVE
NOTE: All impact mentioned here is for BULLION
OVERALL DATA IS MIX
š¢ MCX Commodities šŖ Evening Session Technical Levels š§ by IMV (24th May 2024)āļø
ā Kindly follow our levels carefully š§šš»
āļø Silver (July) has support at 90800 while resistance at 91400. Sustainable trade below 90800 will take it to 90500...90200 very soon. If it breaks and sustain the resistance level of 91400 then will take it to 91700---92000, respectively.
āļø Zinc (May) has support at 271.20 and resistance at 275.20 Break and sustained below 271.20 will see the downside move 269.20---267.20 and if sustained above 275.20 can see further upside towards 277.20ā¦279.20 levels.
āļø Natural Gas (May) support has 218 and resistance 228. Sustainable trade above 228 can see more rally towards the next level of 233, 238 and if sustained below 218 then can move towards 213ā¦208.
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š Commodities šŖ Morning Update by IMV (24th May 2024)š®š³āš»
ā Kindly follow our levels carefully š§
āļø Gold (June)š„ has support at 71300 and resistance 71600. Break and sustain below 71300 will take it to the next support level of 71150...71000 and sustainable trade above 71600 can see further upside move towards the next resistance level of 71750ā¦71900
āļø Copper (May)āļø has support at 890 and resistance at 896 Sustainable trade above 896 will see the upside move towards 899, 902 and if sustained below 890 can catch the downside move towards 887, 884 respectively.
āļø Crude Oil (June)š¢ļø has support at 6370 and resistance at 6450. Sustainable trade below 6370 can see more downside toward 6330ā¦6290 and if sustained above 6450 will see the upside move towards 6490ā¦6530 levels.
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New Home Sales
Previous: 693K
Forecast: 677K
Actual: 634K
Impact: POSITIVE for Bullion
Flash Manufacturing PMI
Previous: 50.0
Forecast: 50.0
Actual: 50.90
Impact: NEGATIVE
Flash Services PMI
Previous: 51.30
Forecast: 51.20
Actual: 54.80
Impact: NEGATIVE
NOTE: All impact mentioned here is for Bullions
Unemployment Claims
Previous: 222K
Forecast: 220K
Actual: 215K
Impact: NEGATIVE for Bullion
š¢ MCX Commodities šŖ Evening Session Technical Levels š§ by IMV (23rd May 2024) āļø
ā Kindly follow our levels carefully š§šš»
āļø Silver (July) has support at 91000 while resistance at 91500. Sustainable trade below 91000 will take it to 90700...90400 very soon. If it breaks and sustain the resistance level of 91500 then will take it to 91800---92100, respectively.
āļø Zinc (May) has support at 267.50 and resistance at 271.50 Break and sustained below 267.50 will see the downside move 265.50---263.50 and if sustained above 271.50 can see further upside towards 273.50ā¦275.50 levels.
āļø Natural Gas (May) support has 230 and resistance 239.50. Sustainable trade above 239.50 can see more rally towards the next level of 244, 249 and if sustained below 230 then can move towards 225ā¦220.
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š Commodities šŖ Morning Update by IMV (23rd May 2024)š®š³āš»
ā Kindly follow our levels carefully š§
**āļø Gold (June)š„**has support at 72450 and resistance 72750. Break and sustain below 72450 will take it to the next support level of 72300...72150 and sustainable trade above 72750 can see further upside move towards the next resistance level of 72900ā¦73050
āļø Copper (May)āļø has support at 888.50 and resistance at 894.50 Sustainable trade above 894.50 will see the upside move towards 897.50, 899.90 and if sustained below 888.50 can catch the downside move towards 885.50, 883 respectively.
āļø Crude Oil (June)š¢ļø has support at 6400 and resistance at 6480. Sustainable trade below 6400 can see more downside toward 6360ā¦6320 and if sustained above 6480 will see the upside move towards 6520ā¦6570 levels.
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Existing Home Sales
Previous: 4.19M
Forecast: 4.21M
Actual: 4.14M
Impact: POSITIVE for BULLION
š¢ MCX Commodities šŖ Evening Session Technical Levels š§ by IMV (22nd May 2024)āļø
ā Kindly follow our levels carefully š§šš»
āļø Silver (July) has support at 94000 while resistance at 94600. Sustainable trade below 94000 will take it to 93700...93400 very soon. If it breaks and sustain the resistance level of 94600 then will take it to 94900---95200, respectively.
āļø Zinc (May) has support at 272.30 and resistance at 276.30 Break and sustained below 272.30 will see the downside move 270.50---268.60 and if sustained above 276.30 can see further upside towards 278ā¦279.80 levels.
āļø Natural Gas (May) support has 214 and resistance 224. Sustainable trade above 224 can see more rally towards the next level of 229, 234 and if sustained below 214 then can move towards 209ā¦204.
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š Commodities šŖ Morning Update by IMV (22nd May 2024)š®š³āš»
ā Kindly follow our levels carefully š§
āļø Silver (July) has support at 94400 while resistance at 95000. Sustainable trade below 94400 will take it to 94100...93800 very soon. If it breaks and sustain the resistance level of 95000 then will take it to 95300---95600, respectively.
āļø Copper (May) has support at 926.20 and resistance at 932.20 Sustainable trade above 932.20 will see the upside move towards 935, 938 and if sustained below 926.20 can catch the downside move towards 923.20, 920.50 respectively.
āļø Crude Oil (June) has support at 6470 and resistance at 6570. Sustainable trade below 6470 can see more downside toward 6420ā¦6380 and if sustained above 6570 will see the upside move towards 6620ā¦6660 levels.
Rest of the commodities levels send to our Levels Package Subscribers
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ā ļø No Major US Economic Data Today Evening
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š¢ MCX Commodities šŖ Evening Session Technical Levels š§ by IMV (21st May 2024)āļø
ā Kindly follow our levels carefully š§šš»
āļø Gold (June)š„ has support at 73800 and resistance 74100. Break and sustain below 73800 will take it to the next support level of 73650...73500 and sustainable trade above 74100 can see further upside move towards the next resistance level of 74250ā¦74400
āļø Zinc (May)š„ has support at 274 and resistance at 278 Break and sustained below 274 will see the downside move 272---270 and if sustained above 278 can see further upside towards 280ā¦282 levels.
āļø Natural Gas (May)ā½ support has 226 and resistance 236. Sustainable trade above 236 can see more rally towards the next level of 241, 246 and if sustained below 226 then can move towards 221ā¦216.
Rest of the commodities levels send to our Levels Package Subscribers
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