Tuesday, 7 July 2015

Daily Commodity Live Market Trends and Tips

MCX Aug Copper was begun the day with 2 rs gap down and there after continued the same trend and shed almost 11rs on daily basis. Near-term bearish outlook remains unchanged and further fall can be possible towards 355 & 351.30 levels. Hence, upside resistance pegged at 361 levels.

MCX July Crude oil prices trading in a broader range and there are no signs about the bottom yet. Further fall is on verge to test the downward trend-line support at 3351 levels, below that 3295 will be the next target. However, upside resistance remains at 3435 levels.

NCDEX July Dhaniya; “bullish hammer” candlestick pattern on daily charts renders that the uptrend has intact and further rally can be possible towards 12210 & 12380 levels. However, downside support remains at 11920 levels.

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