Posted by : Niti Mathur
Gold and silver on Mcx collided with easier levels a week ago. Crude picked up on popularity from moguls while copper was still on the borderline of a defeat. Mcx copper exchanged the reach of 406-413 last week. The ware saw flat instability on Chinese standpoint.
Algorithmic exchanging with mechanical advertise positions advertised steep fall in gold and silver costs. Persevering back off in Chinese economy and miserable state of issues in European economy guaranteed the wares stayed in bearish zone. Appeal from shippers kept Crude oil in positive domain.
- Mcx gold for August conveyance might exchange sideways to down without much fanfare. Short blanket is normal at more level levels. Help: 24800, 24000; Resistance: 26300, 27100
- Mcx silver for September conveyance might exchange bearish without much fanfare. Pitch on ascent is encouraged to the traders. Help: 39000, 38000; Resistance: 41700, 41999
- Mcx Crude oil for July conveyance might exchange with negative inclination without much fanfare. Underpin: 5550, 5310; Resistance: 5850, 5890. MCX crude oil traded in the range of 5570-5867 last week. Depreciation of Indian Rupee to 60.5 levels against dollar capped further fall in crude oil prices.
- Mcx copper for June conveyance is relied upon to exchange sideways without much fanfare. Help: 398, 389; Resistance: 418,420