Monday, July 19, 2021

Commodity / Breakdown Critical Intermediate Intermediate Critical Breakout

Direction
Currency level Support Support Resistance Resistance level

MCX GOLD Corrective Rally 46770 47100 47400 48300 48675 49050
SPOT GOLD Corrective Rally 1735 1757 1785 1830 1865 1900

MCX SILVER Corrective Rally 64650 65485 66550 68630 69555 70300
SPOT SILVER Corrective Rally 24.1 24.55 24.9 25.8 26.3 26.7

MCX BULLDEX Corrective Rally 14085 14300 14500 14865 15050 15180

MCX CRUDE OIL Corrective Fall 4960 5050 5165 5455 5595 5650
NYMEX CRUDE OIL Corrective Fall 67 68.25 69.4 71.85 73.05 74.45

MCX NAT. GAS Range Bound 242 251 262 283.5 300 310
NYMEX NAT. GAS Range Bound 3.08 3.3 3.52 3.95 4.12 4.3

MCX METLDEX Corrective Rally 15620 15800 15030 15600 15865 16100

MCX COPPER Range Bound 698 707 716.5 737 746 755
LME COPPER Range Bound 8994 9110 9233 9497 9613 9729

MCX NICKEL Corrective Rally 1310 1340 1390 1446 1500 1550
LME NICKEL Corrective Rally 17395 17794 18458 19201 19918 20582

MCX LEAD Range Bound 168.2 171 174.6 180.65 184.1 186.9
LME LEAD Range Bound 2178 2215 2261 2339 2384 2420

MCX ZINC Corrective Rally 230.8 234.5 237 247 251 255
LME ZINC Corrective Rally 2831 2876 2907 3029 3079 3128

MCX ALUMINIUM Range Bound 188 191.35 194.2 201.15 203.7 207
LME ALUMINIUM Range Bound 2370 2412 2448 2535 2568 2609

USDINR (SPOT) Range Bound 74.05 74.25 74.4 74.7 74.9 74.9
USDINR Range Bound 74.1 74.4 74.55 74.85 75 75.1
EURINR Corrective Fall 87.4 87.7 88 88.55 88.8 88.8
GBPINR Range Bound 102.4 102.4 102.75 103.5 103.8 103.8
JPYINR Corrective Rally 66.8 67.1 67.4 68.25 68.25 68.6

DOLLAR INDEX Corrective Rally 92 92 92.4 92.95 93.2 93.5

EURUSD Corrective Fall 1.172 1.172 1.177 1.187 1.191 1.198
GBPUSD Range Bound 1.366 1.366 1.373 1.381 1.286 1.391
USDJPY Corrective Fall 108.7 109.1 109.6 110.8 111.2 111.2

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

 Monday, July 19, 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.

DownTrend – 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