commodity outlook for 31 may 2016

commodity outlook for 31 may 2016 Mcx gold future closed at 28645. Here expect this bounce back rally to extend up to 28800-28900.   Mcx silver future last closed at 38619. Here we saw lower levels up to 38300. For intraday mcx silver outlook bullish and expect upside up to 38980.     Mcx aluminium future closed at 103.45. Here on downside 103 and 102.55 are support zones for intraday. On upside 104 and 104.5 are intraday resistances. Mcx copper is closed at 312.5 with loss. Here 311 and 308 are intraday support levels while on upside 314.5 and 317.4 are resistances. Mcx lead future is above 111.6 remain buy on dips for targets 114.3 and 115.6. Mcx nickel future above 552 remain buy on dips for targets 565 and 574. Mcx zinc future might correct up to 126 me intraday.     Mcx crude oil future closed at 3374 with gain. Here we saw breakout above 3400 levels and crude is trending towards my tgt 3600+. Mcx natural gas future intraday support zones are 144 and 140 while on upside 147 and 149 are intraday targets.

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Pramod Baviskar

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