Indian Market View Commodity Channel (SEBI Registered)

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Data negative for Crude Oil

ISM Manufacturing PMI Actual Data: 49.20 Impact: POSITIVE JOLTS Job Openings Actual Data: 8.488 Impact: POSITIVE ISM Manufacturing Prices Actual Data: 60.90 Impact: NEGATIVE Construction Spending m/m Actual Data: -0.2% Impact: POSITIVE NOTE: All impact mentioned here is for Gold and Silver

Data is kind of Neutral

Final Manufacturing PMI Previous: 49.90 Forecast: 49.90 Actual: 50 Impact: NEGATIVE for Bullion

ADP Non-Farm Employment Change Previous: 184K Forecast: 179K Actual: 192K Impact: NEGATIVE for Bullion

Evening Session MCX Commodities Levels (01/05/2024) ✒️ Kindly follow our levels carefully. ✒️ Gold (June) has support at 70350 and resistance 70650. Break and sustain below 70350 will take it to the next support level of 70200...70050 and sustainable trade above 70650 can see further upside move towards the next resistance level of 70800…70950 ✒️ Copper (May) has support at 853.50 and resistance at 859.50 Sustainable trade above 859.50 will see the upside move towards 862.50, 865 and if sustained below 853.50 can catch the downside move towards 851, 848.50 respectively. ✒️ Crude Oil (May) has support at 6700 and resistance at 6800. Sustainable trade below 6700 can see more downside toward 6660…6620 and if sustained above 6800 will see the upside move towards 6840…6880 levels Rest of the commodities levels + evening data analysis send to 'Premium Levels Subscribers'.

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CB Consumer Confidence Actual Data: 97 Impact: POSITVE for Bullion

Chicago PMI Actual Data: 37.90 Impact: POSITVE for Bullion

IMPORTANT UPDATE 👉 Tomorrow NSE is closed on account of MAHARASHTRA DAY. 👉 Tomorrow MCX Market is closed in first half and will open in evening. ✅ MCX Trader, Specially Gold and Silver traders carry your position very carefully as Indian Market is closed in the morning and in evening we have FED Interest rate meeting. Thanks