Evening MCX bullion bullish || crude oil high on intraday trading and today 10 June intraday commodity tips

Due to correction in dollar price crude change it direction and crosses the mark of 5500 on Saturday trade. After getting early lead Brent crude slipped in 44 cent to $102.14 a barrel whereas US oil dropped by 37 cent to $95.66 per barrel. But if we are talking about domestic commodity market crude oil are trading in higher side after gaining a intraday high of 5562, on Monday morning it open at 5522 and touched a low of 5519.

MCX gold for August delivery today opens at 27617 and touched an intraday high of 27784 with a low of 27586.  Continue increment in Dollar prices left gold price in upper side and on intraday trade gold it expected to gain more point in green side at evening trade. Meanwhile silver are trading with a mixed reaction mostly in upper side. Weak rupees pushing silver back but the demand and high volume support the trend on intraday trade at Multi commodity exchange for July delivery.

Today all energies stock raised at MCX, on early trade a good swing are seen mentha oil, natural gas and crude oil are expected to carry on with same trend. Mentha oil, natural gas and crude in evening trade looking to be bullish with a small red sign.

Base metal are positive on intraday market with a small downwards trend, at MCX metal are looking in a mixed movement with a small gain in early trade, after opening in downside. Today copper and nickel are showing a lazy trend in market and expected to fall and trade with a small bearish trend.

INTRADAY TIPS

Buy gold August above 27700 tgt 27750, 27800, 27850…………….sl 27550

Buy silver July above 43050 tgt 43100, 43200, 43300………..sl 42750

Buy nickel June above 866.50 tgt 867, 868, 870……………..sl 861

Buy lead above 123.50 tgt 123.80, 124, 124.50……………sl 122

Rupees fall to 1 year low |what affect on commodity market and share market due to low growth rates| evening commodity gold silver nickel tips

Today India announced a growth figure for full year that fall to decade low of 5% that affect the Indian share and force it to trade in bearish side. Indian economy fight with high inflation and weak export demand that turn the GPD rate a lower side. While on other hand Indian currency touch a year low after a fourth consecutive day on Friday. Rupees slipped to 15 paise to 56.63 per dollar on the last day of month.   Some correction might be seen in Indian currency in evening session at FOREX.

GOLD & SILVER

In commodity market the affect on GPD and weak currency are seen in afternoon, after opening from a good level gold and silver fall from a sharp position. Today at MCX gold price open on green side at 27176 against its last close and touch an intraday high of 27308 with a low of 27175. In evening a high swing is experience with increment in domestic market. Currently silver are trading low due to depreciation in Indian rupees, today at morning session it perform well after opening at 44377 with an intraday high of 44660 and low of 44203. In evening a higher movement will be seen due to strong open interest that supports the trend.

BASE METAL

Base metal are showing a mixed reaction after opening a small lead from its last closes, MCX copper are trading in the  range of 412 to 414 In the two session while some positive move are looking in evening session. Today it open at 414.70 and touched an intraday high of 416.10 with a intraday low of 412.75.

Nickel for June delivery trade in bullish side after open in green side, with a small correction of 841.40 at 2:51 pm.    While MCX lead, zinc, and aluminum are trading with a both color with a slow pace. On evening trade all metal are expecting to show a green flag with an upside movement.

ENERGY

Crude oil trying to recover in domestic market but global cue pushes it back, in world market crude oil trading below $100 at 92.97 by losing 0.17%.  MCX crude oil is open at 5290 down side with a negative trend on Friday morning; on intraday it touches a high of 5325 with a low of 5272. Currently crude support a strong downtrend but a s small correction in expected in evening session.

Similar trend is following by natural gas at MCX for future delivery. Today natural gas is open at 229.60 and supported a bearish trend and touches a low of 227.30. In trade natural gas is looking to same trend buy I think a small correction will surely see for June delivery.

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Intraday tips

Buy gold above 27250 tgt 27300, 27350, 27400………sl 27100

Buy silver above 44300 tgt 44400, 44500, 44600………….sl 44000

Buy nickel above 842.50 tgt 844, 846, 850 ………………sl 836