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Gold Mini Jul/ LBMA Spot Gold

Range bound with mild negative bias trading is likely as long as prices stay below the support of $1910. Anyhow, major weakness is seen only a close below $1845. Further recovery rallies are triggered only a direct break of $1915. MCX GoldM Jul Res: 49080 Support: 48020.

Silver Mini Jun/ LBMA Spot Silver

Inability to cross the $28.50 resistance mark, intraday trend likely to be mild negative but breaking the stiff downside obstacle of $26.80 is needed to extend the momentum. Anyhow a break above $30 there are chances of sharp recovery pullbacks. Silver Mini Jun: Res at Rs 72800. Sup: 68200.

Copper Jun

There are chances of recovery upticks as long as 730 hold the downside. A direct drop below the same would trigger another round of liquidation.

Nickel Jun

A mild positive bias is likely but breaking the resistance of 1350 is needed to extend the momentum. A direct drop below 1289 is a short term bearish sign.

Lead Jun

Range bound with mild selling bias is likely, possibly inside 174-168 levels for the day.

Zinc Jun

While prices stay below 243 expect a choppy trading session for the day. Major downside reversal point is seen at 229.

Aluminium Jun

Expect a choppy trading inside 194-188 levels initially and breaking any of the sides would suggest fresh direction to the commodity.

MCX Crude Oil May/NYMEX Crude Jun

Prices continue to stay firm as long as it stays above $67. Next resistances are seen at $72 then $78 levels. However, an unexpected break of $65 could negate the outlook and correct prices lower. Major downside turnaround point is at $61. MCX Jun: Res at Rs 5170 / Support: Rs 4880.

Natural Gas Jun

As long as prices stays above 222 there are chances of recovery upticks for the day. A direct drop below 219 is a sign of reversal.

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