commodity forecast for 3 july 2013

commodity forecast for 3 july 2013


bullion commodity forecast

mcx gold aug future last closed at 25932 with loss of 49 intraday mcx gold future made high at 26240 while low was near 400 rupee intraday range and look like technical bounce back rally at below 26200 stay short for target 25400 to 24800 on downside in intraday.

mcx silver jul expiry future last closed at 40019 with loss of 48 intraday mcx silver future made high near 40600 while low was near 900 rupee intraday range and bounce back is over?here below 40800 hold sell view for target 39-38k.

metal commodity forecast

mcx aluminium future jul expiry last closed at 107.6 with gains of 60 intraday mcx aluminium future made high near 109 while low was near 2 rupee range and still holding long stay long above 107 for target 109-110 on upside.

mcx copper future last closed at 417 flat in intraday mcx copper future made high at 419 while low was near range bound moves and consolidation after bounce back.but below 418 remain to bearish and keep target at 408 and 400.

mcx lead jul expiry future last closed at 124.25 with gains of 35 intraday mcx lead future made high at 126 while low was near almost 3 rupee range and trending strong on higher above 122.5 remain to be bullish for target 125-126 on upside.

mcx nickel jul expiry future last closed at 837 with gains of 5 intraday mcx nickel future made high at 842 while low was at 13 rupee intraday range and nickel trending higher with strong gains.for today expect rally to stretch upto 850-855 levels.

mcx zinc jul expiry future last closed at 111.9 with gains of 1 intraday mcx zinc future made high at 113 while low was near 3 rupee intraday range and rally above 110.5 hold long view for target 112.5 to 115 on upside.

energy commodity forecast

mcx crude oil jul expiry future last closed at 5954 with 2% in intraday mcx crude oil future made low near 5816 while high was 5955 and closed at trend and momentum super bullish and as expect trading at new expect 6100-6200 levels as targets in intraday.

mcx natural gas jul expiry future last closed at 218.7 with gains of 5 intraday mcx natural gas future made high near 219 while low was near 6 rupee range and ng future above watch 218 and above that keep longs for target 224-228.

The Author

Pramod Baviskar

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