commodity forecast for 27 june 2013

commodity forecast for 27 june 2013

bullion commodity forecast

mcx gold aug expiry future last closed at 26160 with loss of 399 intraday mcx gold future made high near 26535 while low was near 800 rupees intraday volatility and sharp breakdown in gold as expected.for tomorrow expect downside rally to continue and with stoploss of 26300 hold short positions for target of 25700 and then 25400.rupee is only factor holding domestic prices still in heavy premium.

mcx silver jul expiry future last closed at 39585 with loss of 1078 intraday mcx silver future made high near 40542 while low was 1700 rupee high volatile range and prices slump as expected.for tomorrow expect downside to continue and may show 38k target in next session.

metal commodity forecast

mcx aluminium jun expiry future last closed at 105.2 with gains of 1.5 intraday mcx aluminium future made high near 105.5 while low was near 2.5 rupee intraday move and taken support of watch another breakout above 105.5 for target near 108-109.below that remain in range.

mcx copper kun expiry future last closed at 409.1 with gains of 5.65 intraday mcx copper future made high near 410 while low was near 12 rupee move and weak rupee supporting copper now 408 is support above this hold long view for target 414 to 418 in intraday.

mcx lead jun expiry future last closed at 123.15 with gains of 1.15 intraday mcx lead future made high near 124 while low was near 3.5 rupee intraday range and breakout above above 122.5 level targets of 125 to 126 possible.

mcx nickel jun expiry future last closed at 826 flat intraday mcx nickel future made low at 817 while high was near 14 rupee intraday range and consolidation for nickel technically below 828 remain bearish and targets open at 810-800.

mcx zinc jun expiry future last closed at 109.9 with gains of 1.65 intraday mcx zinc future made high near 110 while low was near 3 rupee move and zinc with above 109.5 hold long view for intraday targets at 111-112.

energy commodity forecast

mcx crude oil jul expiry future last closed at 5792 with gains of 100 intraday mcx crude oil future made low at 5653 while high was at 150 rupees intraday rally and trending towards all time on weak rupee and nymex crude oil breakout expect 3-5% bull run and target above 6000.

mcx natural gas jul expiry future last closed at 226.5 with gains of 5 in intraday mcx natural gas future made low near 220 while high was above 7 rupee intraday range and as expected taken support and remain in bullish stoploss below 218 keep long view for medium term targets at 240-250.

The Author

Pramod Baviskar

Professional Financial Market Trader and Adviser Working since 2007 Developer of Trade-master™,Future-master™,Option-master™ and Signal-Pro™(Professional Trading system for Amibroker software) Working and Developing Auto-trading robots for various Financial Market. Follow Me on : Facebook-Twitter-Google-YouTube-Pinterest

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