Today commodity market pen with a mixed reaction, if we are
talking about bullion it open on green side but MCX crude oil and cotton are on
red side. In today trading crude oil for
June delivery looks bearish with a negative trend. On overseas market Brent
crude oil traded near $ 103.56 and hopes to down more in remaining session.
On domestic market crude oil is expected to trade in the
range of 5280 to 5368.
Meanwhile after open in green side gold and silver fall down
in red side and carry on more reaction towards down side. Today good for June
delivery open at 26174 against its previous close 26110. At Singapore gold
traded higher due to strong demand from Chinese market.
Support: 25810, 25600
Resistance: 26240, 26400
FOR FREE COMMODITY CALLS FILL THE FORM
On Wednesday, morning silver open at bit higher than its
last close and open at 43202 it last is 43170. Currently bullion is on under pressure
and trading with a low demand in Asian market.
Open interest not supporting the
trend and that help to silver play in negative side.
Support: 42850,
42700, 42575
Resistance: 43400,
43590, 43780
Base metal are playing in more comfort zone, today MCX
copper, nickel , zinc and aluminum all are open in up direction. Copper and nickel
are looks more confident in domestic market. MCX coppers for June delivery open
at 410.50 against it last close at 409.70.
Nickel open at 832.40 against last close 830.10 and expecting
to move on higher in today trading with a bullish trend. While some correction is
going to seen in zinc, lead and aluminum is today trade from its open position.
Mentha oil are looks much volatile in last two trading
session, in which it kisses the level of 1000 and traded more up at MCX. Today it opens at 1028 much higher than it
yesterday close at 1000.80
Seed Newsvine
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