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Published on 6/06/2019 10:37:42 AM | Source: Hem Securities Ltd

Commodity Technical Outlook 6 June 2019 - Hem Sec

Posted in Commodities Reports| #Commodity Tips #Hem Securities Ltd

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GOLD MCX Future June CMP: Rs. 32724 (0.21%)

With the optimism towards United States and Mexico trade talks, the dollar gained some positivity leading to slight correction in the yellow metal. Though technically the commodity looks strong for another bullish ride and buy on dips strategy is working its magic. Support can be seen at Rs. 32635 & 32435 whereas resistance at Rs. 32900 & 33000.

 

CRUDE OIL MCX Future June CMP: Rs. 3604 (0.11%)

The fear of economic slowdown has keep the commodity trapped in the bearish run but the sanctions and OPEC are keeping the prices afloat. Investors are advised to remain bearish with the increase in supply by United States. Support can be seen at Rs. 3520 & 3450 whereas resistance at Rs. 3700 & 3800.

 

Recommendations

Sell NG(Aggressive) Below @165 Stop Loss 167 Target 163-160

Buy Turmeric Above @ 7000 Stop Loss 6880 Target 7100-7200

 


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