Commodity forecast 8 November
bullion commodity technical report
mcx gold future last closed at 29901 with loss of 134 rupees.in intraday mcx gold future made high at 30264 while low was at 29726.total almost 600 rupee intraday range and closed with loss as global cues.here expect another 200-300 rupee falls.
mcx silver future last closed at 48380 with loss of 269 rupees.in intraday mcx silver future made high at 49150 while low was at 47901.total 1200 rupee intraday range and closed with loss.here now expect downside upto 47k.on rupee action volatility remain higher in precious metals.
metal commodity technical report
mcx aluminium future last closed at 112.8 with gains of 35 paise.in intraday mcx aluminium future made high at 112.95 while low as at 112.total 1 rupee intraday range and closed with gains.here expect higher levels upto 115.
mcx copper future last closed at 451.65 with gains of 3+ rupees.in intraday mcx copper future made high at 452.9 while low was at 448.6.total 5 rupee intraday range and closed with gains.here expect higher levels upto 458.
mcx lead future last closed at 134.4 with loss of 45 paise.in intraday mcx lead future made low at 133.25 while high was at 135.5.total 2 rupee intraday range and closed in red.here above 132.5 keep long view.
mcx nickel future last closed at 882.4 with loss of 2.2 rupees.in intraday mcx nickel future made high at 889 while low was at 874.total 15 rupee intraday range and closed in red.here watch 880 rupee support.
mcx zinc future last closed at 118.65 with loss of 25 paise.in intraday mcx zinc future made high at 119.6 while low as at 118.1.total 1.5 rupee intraday range and closed with loss.here expect 120+ level as target.
energy commodity technical report
mcx crude oil future last closed at 5941 with loss of 28 rupees.in intraday mcx crude oil future made high at 5994 while low was at 5902.total 90 rupee intraday range and closed with loss.here watch 5900 as major support zone.
mcx natural gas future last closed at 221.8 with gains of 1 rupee.in intraday mcx ng future made high at 228.2 while low was at 219.total 9 rupee intraday range and closed with gains.here expect much higher levels upto 232.