premarket commodity levels and forecast for tomorrow
Mcx gold future closed at 26533 with loss. Here expect downside up to 26300 and if sustain there then expect strong short covering rally for target 27050 and above. Weak rupee might boost domestic gold prices.
Mcx silver closed at 36152. Here trend and momentum both are down. Silver might test 33800 support in short terms so keep sell on rise view.
Mcx aluminium after bounce back might resume primary trend and show 105 to 103 targets on downside. Copper future given bounce back up to 371 and then we saw strong supply from market. Below 362 expect sharp selling pressure for targets 350 to 340. Lead and zinc also given bounce back but primary trend is strong and expect downside for these base metals. Nickel given fresh shorting opportunity with this bounce back. In intraday expect 790 and below levels.
Mcx crude Jul. Expiry future closed below 3840 with loss. Here strong supply on upside suggest prices might give up in upcoming time and might breakdown below major supports. Natural gas closed at 174.8. Here below 179 keep sell on rise view for intraday with stop loss at 180. On downside 164 is short term target level. Daily closing above 179 is bullish sign and in that scenario ng might show rally up to 208 in July expiry.