free intraday mcx tips and levels analysis for 07/01/2015
Gold aug future closed with loss and heading towards 26300 support. Failed to sustain breakout as well as reversal. Here below 26300 expect downside up to 25900. View remain bearish with stop loss at 26580.
Silver July future closed at 35602 with loss. Here outlook for short term is very bearish and expecting silver prices to drop up to 33800. For long term investors below 34k value buying is suggested in staggered manner.
In mcx base metals, weakness as well as consolidation continues. Aluminium formed bottom out pattern and 104 is stop loss for long positions. Copper might bounce back up to 380 to 388 levels. 362 is strict stop loss as well as strong support for copper future. Lead and zinc are also bouncing back. Nickel achieved 720 target and July future back to 768 with sharp recovery in intraday. Here keep buy and accumulate view for long term for price target 848.
Crude oil consolidation and correction continues but now risky traders keep buy and accumulate view. Volatility will remain high but seeing bottom pattern in daily prices. Natural gas now is in strong bullish momentum. Here follow buy and accumulate view with stop loss for target 188 to 202 in short to medium term view.