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Published on 13/05/2019 12:14:56 PM | Source: Hem Securities Ltd

Commodity Technical Outlook 13th May 2019 - Hem Sec

Posted in Commodities Reports| #Crude Oil #Gold #Commodity Tips #Hem Securities Ltd

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GOLD MCX Future June CMP: Rs. 31920 (0.05%)

The US China trade worries and slowing global economy has put the commodity in a upward direction. The movement might not look one directional but it support looks strong on the lower side and dip buying is advised above support zone. Resistance can be faced at Rs.31830 & 31750 whereas support can be faced at Rs. 31980 & 32100.

 

CRUDE OIL MCX Future May CMP: Rs. 4329 (0.07%)

Technically, the demand and supply pressure are making the commodity move in a range bound manner, forming a triangle pattern on the hourly charts. Fresh trades are only advised after the breakout. Support can be seen at Rs. 4310 & 4300 whereas resistance at Rs. 4350 & 4370.

 

Recommendations

Buy Castor June @5920 Stoploss 5870 Target 6040

Buy Natural Gas Above @185.90 Stoploss 182.30 Target 190

 


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