pre market commodity technicals for 24th may 2016


Mcx gold future closed at 29680 with gain. Here expect strong recovery and for intraday buying levels are 29520 and 29380.


Mcx silver also finding short term bottom and closed at 39620.for intraday 39200 and 38900 are strong support as well as buying levels.

 

 
In mcx base metals we saw fall as expected, mcx aluminium touched 105 levels and falling towards 100 level.
Mcx copper is consolidating and signaling reversal.


Mcx nickel is medium term buying opportunity for tgt 605 and above.
Zinc and lead might showing more weakness as they outperformed in past.

 

 
Mcx crude oil closed at 3252 with loss. For intraday 3210 and 3170 are support zones as well as tgts.
Mcx natural gas future remain sell on rise and for intraday tgts are 137 and 133, see more weakness below 138 level.

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Pramod Baviskar

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