Commodity market up dated for 3rd july 2018
Gold :
Over all trading range nearly 30500 to 3000 mark and looks lower level support seen and likely to test 31000 in coming days. So any sharp dip to buy side.
Silver :
Sept series . Looking consolidation with support seen at 39000-39200 and around at that level to buy side with stop loss 300 points for target 39600-39800-40000 mark. Once trade and sustained above 40000 with added open interest it will show real strength towards 41000-41500-4200 mark. Risk reward ratio is favour of buyers.
CRUDE OIL :
We are very bullish this commodity and trading nearly 4 years high which indicate more up side in coming days. Downside 4700-4750 is a descent support and any dip to buy side for target 5500 mark and above in the month of July it self. Buy side.
COPPER :
Major reversal seen from the level of 490 and almost made a low 447. We may consider decent support 440-442 range holding these level, short term up side can not be ruled out.
NICKEL :
Trading range 990 to 1050 and once break out these range will move faster. Selling opportunity only below 990 with break volume and added open interest for target 950 and below.
NATURAL GAS :
Resistance and supply zone nearly 200-203 range and as long as remain bear favour and any rise to selling opportunity.
ALUMINIUM :
Below 152 bearish trend have been set up and sell side. Support nearly 145 range to watch out.
ZINC :
Bearish set up have been established below 210 and sell side. Now consider resistance 199-200 to supply zone and rise to sell side with stop loss 205 for target 190-181 in short term. Sell side.
LEAD :
After taking a support 160 smart bounce back seen and managed to holding above successfully for the last three week. So any dip to buy side with stop loss 160 below on closing basis.
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