IMV Commodity Channel
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🛢️ Crude oil traded higher boosted by Covid-19 vaccine hopes.

👀 Now, concentrate on technical support and resistance levels of Crude oil and other major MCX commodities for today's evening session.

Click on the below 👇 link and read full blog update (23rd Nov 2020)

https://indianmarketview.com/crude-oil-traded-higher-boosted-by-covid-19-vaccine-hopes-major-mcx-commodity-update-for-today/


Team Indian Market View
🥈🥈 Silver... Looks weak below 61500 and could test 60700+--60200 and then to 59400 levels

Hurdle and stop loss above 62200. Trade with levels only.
IMV Commodity Channel
🥈🥈 Silver... Looks weak below 61500 and could test 60700+--60200 and then to 59400 levels Hurdle and stop loss above 62200. Trade with levels only.
As expected, Silver slipped and made a low of 60365. We recommended selling below 61500 levels.

Keep profit booking in it. Revise stop loss at cost
🥇🥇 Our report on Gold... Stop loss triggered in it

Bullion fall drastically on positive news of vaccine. Incurred loss of more than 3000 points in it.

We are still bullish in Gold and surely we will re-enter again at lower levels on reversal.

Two consecutive close below 49000 will take Gold to 48300---48050 levels.

Immediate hurdle at 49500. Trade safely with levels only.
🥇🥇 Gold breached it's crucial support level of 49000

Will it able to close below 49000 or its a trader remorse pattern?

Three consecutive close + weekly close below 49000 will take it to 45000 levels in days to come else it could test it's resistance level of 49500 and then to 50300---50800 again

Trade safely with levels and wait for confirmation
🥇🥈 Precious metals traded lower followed by yesterday panic amidst Vaccine hope.

🖥️ Read carefully our technical support and resistance levels of major MCX commodities for today's evening session.

Click on the below 👇 link and read full blog update (24th Nov 2020)

Click - https://indianmarketview.com/precious-metals-traded-lower-followed-by-yesterday-panic-amidst-vaccine-hope/



Indian Market View
US Economic Data Update

CB Consumer Confidence data reported at 96.1 Vs 97.7.

Richmond Manufacturing Index data reported at 15 Vs 20.

Impact: Negative for Base Metals while positive for Bullions.

Source: Forex Factory
Our buying recommendation in Crude oil proven great

Skyrocketed from 3245---3328. Booked full profit around 3320.

Now, what next???

Close above 3325 will take it to 3390---3460 levels in days to come

Immediate and crucial support at 3200.
🥇🥇 Today we have done bottom fishing in gold

🚀🚀 Gold skyrocketed from 48520---48700. Gained more than 35000/- in 2 lots

Gold has resistance at 48850. Break and sustain above 48850 will take it to 49200---49500 levels in days to come.

Will it break 49500 or take reversal from the top??? 🤔

Today's low is very crucial in Gold.
⚙️🛠️ Base metals seem to be consolidating in high ground.

🖥 Kindly go through the below link👇 to know the technical trading levels of base metals and all other major MCX commodities for today's evening session. (25th Nov 2020)

🖱️ - https://indianmarketview.com/major-mcx-commodities-evening-support-and-resistance-levels/





*&Indian Market View**
✒️ US Economic Data Update

✒️ Prelim GDP q/q data reported at 33.1% Vs 33.1%

✒️ Unemployment Claims data reported at 778K Vs 732K.

✒️ Core Durable Goods Orders m/m data reported at 1.3% Vs 0.5%

✒️ Goods Trade Balance data reported at -80.3% Vs -80.2B

✒️ Prelim Wholesale Inventories m/m data reported at 0.9% Vs 0.4%


Impact: Mixed sentiment for Base metals and Bullions.

Source: Forex Factory
US Economic Data Update

Revised UoM Consumer Sentiment data reported at 76.9 Vs 76.9

Core PCE Price Index m/m data reported at 0.0% Vs 0.0%

New Home Sales data reported at 0.7% Vs 0.0%

Personal Income m/m data reported at 0.5% Vs 0.4%

Personal Spending m/m data reported at 4.3M Vs 1.5M

Impact: Sentiment is neutral to mix for Base metals and Bullions.

Source: Forex Factory
Crude Oil Inventories Data Update

Crude Oil Inventories data reported at -0.8M Vs 0.1M

Impact: Positive for Crude oil price.

Source: Forex Factory
🥇🥈 Precious metals trading in a range around its support level, supported by weak US Jobs data.

Click on the below link and read technical support and resistance levels of precious metals and other MCX commodities. 👇👇

https://indianmarketview.com/precious-metals-trading-in-a-range-around-its-support-level/





Indian Market View
Low volume trades in the commodity segment because of US Bank holiday in the observance of Thanksgiving day.

Trade safely.