Bullion (precious metal)
This week rupees touch a new low 59.93 after a US federal report that directly affects the Indian stock market which comes below 19000. But if we talk
about Indian commodity market a high volatile trend had seen in this week due to high up and down fear. On one hand yellow metal in domestic market traded in the range of 26000 to 27000 in this whole week due to decrement in global gold cue. In upcoming week gold prices are looking to go high for future active delivery on domestic Multi commodity exchange. In global market gold prices comes under $1300 and closes to $1286.20 an ounce at Comex. White metal continue its worst session and fall below 42000 on Friday , but if we are talking about whole week a huge destruction have been made in silver that fall more than -1000 point and close to 41497. More depreciation is looking in white metal in upcoming weeks for July delivery.
Energies
Energies are fluctuating on intraday trading, if we talk about crude oil prices some depreciation had seen on Friday trading while good movements are seen in this and crude oil kisses the level of 5600. As dollar prices increased against Indian Currency crude oil show an increment in domestic market while talking to international market it seem in other position and trading below $100 and closes at $97 per barrel.
Moving towards natural gas a pendulum are continue at Multi commodity exchange , currently natural gas are on bearish side but a fresh start with an increment in domestic market are looking on Monday trade natural gas for June trading expected to trade with a support of 217 and a resistance of 236 in upcoming week. Mentha oil in this week show a good swing and expected to be continuing same trend with small depreciation in upcoming week. Mentha oil in upcoming week looks to move up with a support of 1005 and resistance of 1072.
Base metal
Base metals in this are very unconscious not such big movements are watched on metals, talking to copper and aluminum their global demands are increased especially in china market. Whereas nickel prices are following down on domestic market and trading below 850 but some hike must be seen in base metal as correction in Indian currency. Lead and zinc are covered up with color in this week but in upcoming week some correction are surely seen on intraday and future trade.
Support and resistance
Gold
S1: 26815, S2: 26700
R1: 27359, R2: 27500
Lead
S1: 119.75, S2: 118
R1: 122.80, R2: 123.50
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