Commodity Evening Technical Report - March 23, 2023 - Reliance Securities

By Mr.Jatin Gohil, Technical & Derivative Analyst at Reliance Securities

ENERGY

MCX Crude Oil future is trading in upward moving channel on hourly basis, where commodity is facing hurdle near the Rs. 5900 mark and started correcting from that mark. For the evening session, outlook is neutral to positive and Rs. 5900 a strong hurdle levels however, support is around Rs. 5750.

BULLION

MCX Gold future is trading in horizontal channel where commodity is facing hurdle near Rs. 59350 and support at Rs. 59150. We will see the range bound movement in the evening session if price doesn't breaches any of the above mentioned level.

BASE METALS

MCX Copper March futures, is trading in the upward moving channel on hourly chart. Which is indicating strength in the commodity. Enthusiasm remains continue in the evening session where Rs. 767 will might work as a hurdle and support can be seen near the Rs. 778 mark.

Source : Equity Bulls

Keywords

Commodities EveningTechnicalReport RelianceSecurities Energy Bullion BaseMetals CrudeOil Gold Copper