Gold:-
Gold
performed well on Friday and gave a good pocket to the buyers. Comex
Gold trading at $ 1320 and Gold MCX trading @ 31400, we saw a good up
side in gold in the last trading session Strong wind of BRexit blow the
prices of the golden mettle in an unbelievable manner by making a
biggest move of the day in 2016 till yet a boost of $ 90 was seen on
Comex Gold where on MCX we found the positive move of Rs 1900
yesterday’s session. Still we can see the potential of the gold that it
didn’t gave chance to sellers to put the hands. And made a new support
at 31200. Selling can be initiated if we get the prices for 31150
handle. Which can further lead to 30900 and 30700, which seems tough to
get. On other hand believing to be on buyers side we can see the prices
to taste 31600 to 31800, this upside is also supported by daily and
weekly trend as well. This up moves can be seen in coming one to two
trading session.
Silver:-
Silver
performed exceptional on the session of Friday by hitting the all time
high of the year 2016 both the precious metal Gold and Silver were
running hand in hand and gave a good opportunity to the make profit who
were sitting on the buying side currently trading on the major Support
of 42330 which is freshly created by yesterday’s moves. We believe that
the momentum for upside would be continue if the market opens with a
green flag on Monday. More profit booking on buying side can be done if
the shining mettle breaks 42900 level as it will be a fresh opening for
new levels. Where on other side the gap up on the chart threatens us for
a pull back of prices for 41600 to 41300 handle
Crude:-
Crude
oil found a big down surge on Friday trading session. A fine Up move
was changed into a big down fall by the result release of the BRexit
from the European union. Sellers were on the profit side in case of
Crude Oil. Brent Crude @ 47.50 trading on a fine support line for
Intraday frame where the MCX Crude @ 3266 A down side of almost Rs 150
was marked on MCX Crude where the NYMEX Crude fell to $ 3
This
down side can be continue further for the handle $46 in NYMEX and 31180
to 31100 for MCX. We expect the price to be covered in next two trading
session and if the crude oil gets a pull in the price we can also see a
domestic rate cut in the prices of Diesel and Petrol on 30th June 2016
by a variation of Rs 1.00 to 0.60
Copper:
Copper
performed well on Friday an impact of BRexit was seen on chart by a big
gap down opening but later correction took place and buyers pull the
prices back into the uptrend. Looking on the chart and the historic
moves of the metal we believe that buying in copper should be good above
118.80 as it’s the strong resistance and even the RSI and MACD had
given a green indication on the hourly and daily chart, talking for the
higher levels we can head up to 325 for the next trading session. But we
need to be passions with the resistance level as well.
Natural Gas:-
Natural
Gas last as an outperformed player but got affected at the opening
time, the light natural gas dipped to 179.10 at opening and just after
an hour the market was in the hand of buyers and they pulled the prices
to the days high of 183.70 this difference of Rs 4.60 was covered in the
span of just two hours and for rest of the we could see a range bound
trading in gas. This range bound moves had brought the confusion for the
next trading session as the day candle also closed as a doji. For any
time in the next trading session we see an uptrend on chart for the 185
and 190 brick. But a short pullback can be seen at the time of opening
for a nail down bracket of 178
Lead:-
Lead
took a sharp dip of Rs 1.90 on Friday touching the bottom of the
vessel. At the first hour of opening it was difficult to take any move
in the market as to much volatile but correction took place soon and a
nice uptrend was seen on the chart with a continuous higher high and
higher lows. Where at the end the gap was also filled and the commodity
closed by a doji candle for the day but looking on the chart 116.15
seems to a strong resistance and currently prices are standing at 115.90
which makes a probability for the prices to move up. Further we believe
116.50 can be tested if the market opens positive.
Nickel:-
Nickel
closed with a red candle for the day on Friday where it opened with a
gap down and form a big red candle and for the course of the day market
just kept recovering but was unable to fill up the gap of the opening
time. On the day chart we can see a rounding top formation hence a
selling pressure can be seen on Monday as the uptrend had been broken
yesterday and the indicators are also sowing a crossing for the lower
levels. We would wait for the gap to fill on chart to initiate a buy
position above 619 for the profit hand of 620 and above else 605 is
acting as a major support to touch the bottom of 600
Aluminum:-
Aluminum
seems positive on chart as the impact of BRexit have been absorbed by
the commodity. We can see double bottom formation on the chart which
could lead us to the brick of 112 and a roof line of 114 as well as on
the day basis the chart closed with a Doji candle and so we expect the
prices of aluminum to take an up move from the closing of 109.15 where
on the other side 108.00 would be a support level
