MCX report| future commodity trend for upcoming week and free commodity tips for Monday

Bullion

Indian currency diminishes and its affect are seen on commodity market, yesterday silver comes under pressure and break down through the level of 44000. While gold price also depreciated in domestic future and spot market, currently gold are trading in the range of 27400 to 28000, but more decrement must be seen in upcoming days. Due to weak rupees silver price are expected to come near 41000 in this month.

Energies

Increment in dollar price support crude oil in domestic and result oil price in green side above 5500, open interest also support the trend with good volume and in upcoming weeks crude oil prices are expected to be volatile.

In MCX for future delivery natural gas and mentha oil are looking to green side in upcoming weeks. Mentha oil is hopes to again cross the mark of 1000, but lower demand in Asian market forces him back.  Natural gas for future delivery gains its position with a sharp edge near 221 and expected to increment near to 225 in upcoming days.

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Base metals

On Saturday trading session base metal are trading in positive direction, nickel, copper, lead, zinc and aluminum all are looking lazy and weak but expected to good trading on Monday with volatile trend . Global physical demand in aluminum and copper are increased especially in china market and that support the Asian market.

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5 June Gold silver up in morning trade|| MCX lead support and resistance|| today MCX tips

Base metal at Multi commodity exchange open with a downward trend, today MCX copper for June open at 419.75 against its previous close at 420.50 meanwhile at spot market it traded in green side at 420.70 at 10:29 am. On intraday trade copper seem to be volatile on bullish side and expected to trade between the ranges of 429 to 410.  

Nickel for June trading looks positive at commodity market, at MCX it opens at 862.50 against its last close at 863.40. On early Wednesday morning nickel for June trading up with a good movement and touch an intraday high of 867.

Lead and zinc are looking bearish at Multi commodity exchange; both are open in downside and expected to trade in negative side on morning session while for whole day lead and zinc are showing some small correction with a lazy movement.

Lead support and resistance

S1: 124.50, S2 123

R1: 129, R2 130

Crude oil at spot market are trading at deep low side at 5285 at 10:41 while at Multi commodity exchange for June delivery crude oil is bearish on morning trade. Today it opens at 5308 against its last close at 5300. On intraday trade it seems to fall more in a negative side in today trade.

S1: 5240, S2: 5220

R1: 5330, 5360

Intraday calls

BUY GOLD AUG ABOVE 27220 TGT 27260, 27300, 27400…………..SL 27000

BUY SILVER JUNE ABOVE 44150 TGT 44200, 44300, 44000………SL 43700

BUY CRUDE OIL JUNE ABOVE 5310 TGT 5320, 5330, 5350............SL 5270
BUY LEAD ABOVE 127 TGT 127.50, 128, 129...........SL 125
BUY MENTHA OIL JUNE ABOVE 955 TGT 960, 965, 970 ......SL  930