commodity forecast for 28 jun 2013

commodity forecast for 28 jun 2013


bullion commodity forecast

mcx gold aug expiry future last closed at 25300 with loss of 836 intraday mcx gold future made high near 26151 while low was near 25265 at new as expect achieved 25400 target and trending lower at new lows.for tomorrow expect selling to continue and look like this rally has target at 23k as expected earlier.

mcx silver jul expiry future last closed at 36674 with loss of 900 intraday mcx silver future made high near 39900 while low was at 38625 and closed at target of 38k is almost achieved or we may see level below it tomorrow.if fall below that then 34k-33k is next historic support zone.

metal commodity forecast

mcx aluminium jul expiry future last closed at 105.5 with loss of 1.35 rupee in we seen high near 107 while low was near 105 total 2 rupee range and profit 105 is support below that 103 and lower level possible so watch for that.

mcx copper aug expiry future last closed at 409 with 4 rupee in intraday mcx copper future made high at 413 while low as near 6 rupee intraday move and trading below support below 408 expect 398 to 390 levels again!!all metal remain to be choppy as rupee high volatility.

mcx lead jul expiry future last closed at 123.15 with loss of 65 also 122.5 is major support and above it hold long view for again 125 to 126 levels on intraday mcx lead future made high near 125 while low was near 122.5.

mcx nickel jul expiry future last closed at 833 with 2 rupee in intraday mcx nickel future made high near 840 while low was near 12 rupee in intraday range and closed above support 828.for tomorrow above this hold targets at 840-850 in intraday.

mcx zinc jul expiry future last closed at 110.2 with loss of 85 intraday mcx zinc future made high near 111.5 while low was near 1.5 rupee range and profit below 110.5 hold bearish view and target at 107.

energy commodity forecast

mcx crude oil jul expiry future last closed at 5841 with gains of 46 intraday mcx crude oil future made high near 5867 while low was near 100+ rupee intraday range and crude oil future as expected trending towards new highs.for tomorrow expect 5950 to 6000 as target major support way down at 5700 levels.

mcx natural gas jul expiry future last closed at 215.9 with loss of 10 in intraday mcx natural gas future made high near 228 while low as near 13 rupee intraday range and broken medium term here below 218 on closing basis target is set at 200 and below.

The Author

Pramod Baviskar

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