MCX india : Commodity market report || weekly commodity updates and gold silver trend || 9 July mcx intraday target

Bullion

This week MCX market shows a various phase, MCX bullion are volatile in this week which traded mostly in green side with a low movement. At MCX for future delivery gold price traded flat with a mild correction above 25550. At MCX In upcoming week gold prices for future delivery looks to fall on intraday trade below 26000. Meanwhile silver looks volatile below the range of 40000 for future trade. For intraday trader commodity market is very risky in upcoming week and advice to take a long position.

Gold support and resistance for Monday

S1: 25720, S2: 25650

R1: 26500, R2: 26659

Energies

In this energies are on top gear, a good correction are seen on Friday on crude oil for future delivery which kisses the  mark of 6300 and expected to move more in upside.  Time is very good to invest in crude oil for long term on commodity market which looks a sharp increment. Meanwhile natural gas and Mentha oil are trading with a mixed trend, natural gas are looking to trade in the range of 216 to 228. Movement is mentha oil are expected to rise on intraday trade, currently mentha oil is on weak side that trade near 950, but a sweet fragrance come to move upside but traded below 1050 in coming days.

Base metal

Base metal especially copper and nickel are trading below the level in this MCX and nickel in traded on negative side. On Domestic market MCX copper for future delivery expected to looks over in coming day due to demand rising in alloy industry. Nickel, zinc, lead and aluminum are also look positive on closing day of week.

Zinc support and resistance

S1: 118.50, S2: 118

R1: 115.50,R2: 116.20

Nickel

S1: 808, S2: 805

R1: 826, R2: 835

Lead

S1: 123.30, S2: 122.75

R1: 127.65, R2: 128

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