BULLION (Gold and silver)
This week commodity market showing lots of up and down, on one hand precious metal showing a dull trend meanwhile on base metal we show a good positive trend. Gold and silver this depreciated by the effect of lower demand in Domestic and global market. In this week gold mostly seen in negative side and support by a good level between range of 30650-30900. While white metal silver following down trend and traded by lower level this week and down from its position of 58800 to 58200. But in coming month silver and gold expected to go high form its current market level.
In upcoming week buy silver above 58500 and sell below 58150.
While buy gold above 30900 and sell below 30750.
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MENTHA OIL AND CRUDE OIL
This week on MCX mentha oil achieved a new level and crosses level of 1400.this week Mentha oil increased by more than 7% on MCX. While crude oil showed some positive movement in early of week. Crude oil gain positive movement due to depreciation on Indian currency against US dollar. In upcoming days global crude price help domestic market to go higher.
In base metal nickel continuously upgrading its position and roses high, in this week nickel open at 978 and go high of 997. In coming day nickel price soon crosses the level of 1000. This week is quietly good for copper in the starting of the week copper start with a low level but as day passes it touches some good point, in upcoming week copper is expected to trade between the ranges of 442-453.
Some correction is watched in the price of Lead, aluminum, and Zinc in this week but upcoming week is not looking good for that metal and low trend is expected on MCX.
This week cotton is the commodity that catches eyes of all traders in intraday market. Cotton makes correction in intraday position for February contract. Cotton has a good support level in upcoming day and expected more correction from its current level. In upcoming week cotton is traded in the range of 16750-16920.