IGI Logo

Gold Mini Jul/ LBMA Spot Gold

Prevailing choppy with negative bias trading likely to continue as long as $1800 caps the upside. Meanwhile, a direct drop blow $1755 would be an early signal of sharp liquidation pressure. MCX GoldM Jul Res: 47200 Support: 46360.

Silver Mini Jul/ LBMA Spot Silver

Expect a narrow trade inside $26.60-25.50 levels initially and breaking any of the sides would suggest fresh direction to the commodity. A direct drop blow $24 is a short term bearish signal. MCX SilverM Jul: Res at Rs 69200. Sup: 66800.

Copper Jul

Further rallies can be seen only a break above 730. Else, there are chances of choppy with corrective selling for the day

Nickel Jul

Bullish outlook may continue while prices stay above 1340. Immediate downside reversal is seen only a break of 1312.

Lead Jul

Intraday trend continue to be volatile inside 169.50-173 levels and breaking any of the sides would suggest fresh direction to the commodity.

Zinc Jul

Next major upside obstacle is seen at 238. a direct break of which the momentum may extend further. Inability to do so, expect corrective selling pressure.

Aluminium Jul

If the support of 192 remain undisturbed, expect recovery moves for the day. A direct drop below 190 is a weak signal.

MCX Crude Oil Jul/NYMEX Crude Jul

If unable to clear the support of $72, bullish momentum to continue the day. Anyhow, major upside obstacles are seen at $74.50/77 levels. A direct drop below $68 is a short term reversal point. MCX Jul: Res at Rs 5540 / Support: Rs 5180.

Natural Gas Jul

Bullish momentum to continue as long as the support of 246 remains hold the downside. Break of 232 is a short term reversal signal.

To Read Complete Report & Disclaimer Click Here

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 
SEBI Registration Number: INH200000345

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer