commodity market premarket outlook and trading tips
Mcx gold future closed with loss at 26476 and heading towards our given target 26300. Mcx silver closed at 36115 with loss. 36100 is strong support and below it keep target at 33800.
In base metals, aluminium, lead and zinc consolidating after bounce back. While copper is range bound but outlook still negative. Below 374 keep sell on rise view. Nickel possibly heading for my given target of 760. 850 is strong positional resistance while for intraday 820 is resistance level.
In energy pack, crude oil future closed at 3812 and giving very bearish signals. Still in range but outlook is bearish. Natural gas given closing above 179 which is bullish signal. Here with stop loss 176 expect target at 188 and above in July expiry.