MCX india : Commodity market report || weekly commodity updates and gold silver trend || 9 July mcx intraday target

Bullion

This week MCX market shows a various phase, MCX bullion are volatile in this week which traded mostly in green side with a low movement. At MCX for future delivery gold price traded flat with a mild correction above 25550. At MCX In upcoming week gold prices for future delivery looks to fall on intraday trade below 26000. Meanwhile silver looks volatile below the range of 40000 for future trade. For intraday trader commodity market is very risky in upcoming week and advice to take a long position.

Gold support and resistance for Monday

S1: 25720, S2: 25650

R1: 26500, R2: 26659

Energies

In this energies are on top gear, a good correction are seen on Friday on crude oil for future delivery which kisses the  mark of 6300 and expected to move more in upside.  Time is very good to invest in crude oil for long term on commodity market which looks a sharp increment. Meanwhile natural gas and Mentha oil are trading with a mixed trend, natural gas are looking to trade in the range of 216 to 228. Movement is mentha oil are expected to rise on intraday trade, currently mentha oil is on weak side that trade near 950, but a sweet fragrance come to move upside but traded below 1050 in coming days.

Base metal

Base metal especially copper and nickel are trading below the level in this MCX and nickel in traded on negative side. On Domestic market MCX copper for future delivery expected to looks over in coming day due to demand rising in alloy industry. Nickel, zinc, lead and aluminum are also look positive on closing day of week.

Zinc support and resistance

S1: 118.50, S2: 118

R1: 115.50,R2: 116.20

Nickel

S1: 808, S2: 805

R1: 826, R2: 835

Lead

S1: 123.30, S2: 122.75

R1: 127.65, R2: 128

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commodity movement in upcoming week and mcx report

Bullion

In recent week MCX gold and silver showing a different colors form the starting of the week. This week gold for April delivery open at 29374 with a strong support level. On Monday a huge increment had seen on MCX. In upcoming week positive shade is expected from gold in global as domestic market. Mcx silver is on fire this week on the early trading, it started with a level of 54980, but on Friday depreciation had seen for may contract. On Saturday at 11.02 am silver prices had seen at 54194 some analyst had think that in upcoming week silver prices ready to touch a sky. Let’s see what happen in upcoming week.

Buy silver above 54400 with a support level of 53500 and a resistance of 55000

Buy gold above 29450 with a support level of 29210 and a resistance of 29630

Crude oil

This week crude oil shows some good jump above 5000 as expected form that on MCX. On MCX crude oil, some more correction are expecting due to increment in Russia and New York.  On Friday New York crude prices moves up by 0.2% similarly Russia also shows positive report in crude and natural gas. In upcoming week crude oil go more up with a mixed movement on MCX for 19 March delivery.

Buy crude oil 5050 with a support level of 4990 and a resistance of 5090

Base metal

Base metal in upcoming week expected to show some correction, especially nickel. This week nickel performs badly and no hike had seen in it. This week nickel prices are falling from starting of week. Copper on LME showing a mixed movement in ongoing week no high movement had seen in copper.  Aluminum, zinc and lead show bit positive movement on early on week. In upcoming week all these metals are expected to work on negative side. US jobless data and European data trying to recover to due to lower demand this metal show mixed reaction.

Mentha oil and cotton

This week cotton is the top gainer who fire on MCX market on Friday by moving more than +300 point for 29 March. In recent week cotton started with the prices of 18440 and crosses the line of 19000 and in upcoming week expected more rise on it.  MCX cotton for 29 March perform well and advice to hold position and wait for the right price.

This week MCX mentha oil not performs in right direction and drop from its position.  Mentha oil prices are watched around 1240 in early of week but mentha oil can’t hold the position and fall down. But this week negative data is worthless and some correction might be happen in upcoming week.

Buy cotton above 18900 with a support level of 18600 and a resistance of 19200

Buy mentha oil above 1200 with a support level of 1170 and a resistance of 1230.

Natural gas performs well in this week and on Saturday at 11.54 it watched at 209.10, and expected more hike due to positive data in natural gas form Russian market.

Buy natural gas above 210 with support level of 205 and a resistance of 216.

   

                                                                                                                                                                             

commodity movement on Monday and commodity tips for future trading

In upcoming week India MCX expected to move in green and most commodities are looking to show a great stuff for investor.  In recent week MCX gold is continue falling but on early of Saturday trade it show positive sloppy movement. This week gold start with a price of 29770 but it continue showing down trend on commodity market.  Gold price are looking to going up in upcoming week and some correction is being expected on MCX gold for April delivery.  MCX silver was looking in good position during the whole week and some good sign are expected in upcoming day in future delivery.

Buy gold above 29400 with a support level of 29250 and a resistance of 29600

Buy silver above 54900 with a strong support level of 54100 and a resistance of 55500

Crude oil price are may be rise in upcoming week due to some positive report comes from US and CHINA. In upcoming week crude oil price are expected to trade in the range of above 5000.

Base metal especially nickels and copper that show mostly high movement on MCX, their price is expected to fluctuate on India MCX commodity market.  Nickel price is bounded  between the ranges of 900 to 925.Everyone is waiting the movement when nickel crosses the line of 1000 and work above of it. 

On intraday it is advice to buy nickel above 910 on Monday morning. With a target of +10  point and equally  with stop loss.

Mcx cotton , mentha oil and natural gas they all are in good side  on Monday and expected to open on  fresh positive side.