Monday, December 13, 2021

Commodity / Breakdown Critical Intermediate Intermediate Critical Breakout

Direction
Currency level Support Support Resistance Resistance level

MCX GOLD Range Bound 47200 47520 47865 48650 48975 48350
SPOT GOLD Range Bound 1685 1715 1757 1805 1837 1870

MCX SILVER Range Bound 58625 59470 60300 62070 63275 64180
SPOT SILVER Range Bound 21.1 21.47 21.82 22.62 22.95 23.35

MCX BULLDEX Range Bound 13745 13880 13990 14150 14400 14650

MCX CRUDE OIL Corrective Rally 5140 5245 5360 5555 5670 5800
NYMEX CRUDE OIL Corrective Rally 67.05 68.9 70.7 74.75 76.1 77.95

MCX NAT. GAS Corrective Rally 277.8 284 292.8 306 314 322.5
NYMEX NAT. GAS Corrective Rally 3.36 3.57 3.79 4.19 4.42 4.65

MCX ENERGDEX Corrective Rally 5250 5350 5480 5625 5740 5850

MCX COPPER Range Bound 709 716.7 724 746 765 772
LME COPPER Range Bound 9200 9300 9394 9680 9926 10017

MCX NICKEL Corrective Rally 1463 1480 1518 1587 1610 1628
LME NICKEL Corrective Rally 18653 18870 19355 20234 20528 20757

MCX LEAD Range Bound 176.7 179 182.15 188.25 191.1 193.35
LME LEAD Range Bound 2194 2223 2262 2337 2373 2401

MCX ZINC Corrective Rally 270.3 273.85 277.15 283.25 286.5 289.5
LME ZINC Corrective Rally 3235 3278 3317 3390 3429 3465

MCX ALUMINIUM Corrective Rally 206.35 209 211.65 218.5 221.2 223.65
LME ALUMINIUM Corrective Rally 2533 2566 2599 2683 2716 2746

MCX METLDEX Range Bound 16290 16500 16760 17105 17230 17365

USDINR (SPOT) Corrective Rally 74.6 74.95 75.25 75.85 76.05 76.2
USDINR Corrective Rally 74.85 75.15 75.4 75.95 76.2 76.35
EURINR Corrective Rally 84.5 84.8 85.25 85.9 86.2 86.45
GBPINR Range Bound 99.3 99.75 100.15 100.55 100.9 101.35
JPYINR Range Bound 65.75 66.1 66.4 66.9 67.25 67.6

DOLLAR INDEX Range Bound 94.6 95.1 95.5 96.4 96.9 97.45
EURUSD Corrective Rally 1.117 1.122 1.1265 1.135 1.143 1.152
GBPUSD Range Bound 1.307 1.314 1.321 1.326 1.3325 1.339
USDJPY Range Bound 112.4 112.8 113.25 113.75 114.2 114.75

Please refer to the disclaimer at the end of the report. 1|Page

 Monday, December 13, 2021

How to interpret levels in this report?

Support – This is a price level observed on a historical chart where buyers become more inclined to
buy and sellers become less inclined to sell. If price breaks below support, then that support level
becomes the new resistance level.

Resistance – This is the opposite of a support level. This is a price level observed on a historical chart
where sellers become more inclined to sell and buyers become less inclined to buy. If price breaks
above resistance, then that resistance level becomes the new support level.

Range Bound –A range bound market is one where the price trades in a range, moving between
support and resistance levels. It is advised to buy near support and sell near resistance in a range
bound market till a clear breakout occurs in either direction. This type of market gives an opportunity
to trade on either side of the range with limited risk.

Uptrend – An uptrend describes the price movement of a commodity/currency pair when the medium-
term as well as the short-term direction is upward. Buying near support or on breach of resistance is
advised in an upward-trending market.

Down Trend – A down trend describes the price movement of a commodity/currency pair when the
medium-term as well as the short-term direction is downward. Selling near resistance or on break of
support is advised in a downward-trending market.
Corrective Rally – A commodity/currency pair is said to be in a corrective rally when the short-term
direction is upward even though the medium term direction is still lower. Buying near support or on
breach of resistance is advised. The only thing to remember is that upside could be limited in such a
market.

Corrective Fall –A commodity/currency pair is said to be in a corrective fall when the short-term
direction is downward even though the medium term direction is still higher. Selling near resistance
or on break of support is advised. The only thing to remember is that downside could be limited in such
a market.

For any details contact:

Commodities Advisory Desk - +91 22 3958 3600
commoditiesresearch@motilaloswal.com

Disclaimers

Please refer to the disclaimer at the end of the report. 2|Page