mcx commodities analysis

mcx commodities premarket analysis and

trading tips for 19 june 2015

Gold future closed above 27k with sharp short covering as expected. Here keep positional target at 27550 while on downside 27050 and 26700 are strong support zones as well as stop losses for long positions.
Mcx silver closed near 37k. Here also keep buy on dips view with strict stop loss in place. On downside 36400 and 36200 are strong support zones. On upside 37800 and 38300 are resistances for intraday.
In base metals, aluminium sliding down towards 103 target. On downside 105 and 103 are support. On upside 109-111 is strong supply zone for short term. Mcx copper is trending down towards target of 460. On upside 472 and 478 are strong resistances. Lead and zinc also failed to sustain reversal so expect sharp fall in those metals. Nickel is very bearish and show sudden crack in next week. Below 850 keep sell on rise view.
Mcx crude oil future with last closing given reversal signal. Oil future clearly resilient to selling and might preparing for next Bull Run. On upside keep targets around 4000 and plus. 3700 is support as well as stop loss for long positions. Mcx natural gas seen sharp supply around 188 resistance and now completely changed trend. Expect 164-160 levels as support as well as target for ng future.

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Pramod Baviskar

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