COMMODITY REPORT

Gold: In MCX gold is trading around 31900 with the higher buying pressure. The overall trend is positive and favorable for long term buyers of bullions. There is a short term targets of 32000 and 32600. Indicators are making zig-zag pattern in over bought situation.

Silver: The MCX Silver is trading around at 61400 level with the huge buying pressure from the level of 57500. Support 60700 can be seen with the help of trendline. Stochastic is still showing positive trend with the negative diversion.

Crude: From the couple of days, Crude is trading in a range between 4600 and 4750. Resistance can be seen at 4790 with the help of trendline in a daily chart. Trend of crude is difficult to measure, if we see the EOD chart of this commodity. On the other hand, volume is increasing day by day.

Natural Gas: MCX Natural Gas is spotting around 193 with the marginal volume and price movement from the couple of days. Slowly and gradually, price line is coming down due to lower demand in international market. Trend Line resistance can be seen at 198.

Copper: The highest volume in commodities market, Copper is moving around 420 and it looks like blast in the price line. Price line is trading above the trend line and can touch till 440 level in medium term time horizon. Lower indicator, stochastic is showing upward shift at 80 level.

Nickel: Opposite commodity of copper, Nickel is moving around 882 level with the lower volume from few days. In a daily chart, movement is flat and price is expected to go up till 900 level in short term trading time.

Lead: Leading commodity in base metals, Lead is priced at 119 with the higher buying pressure. Lower indicators are showing upward shift for the level of 125. Hence, day traders are not advised to make long term sell position in this commodity.

Aluminum: Silent commodity, Aluminium is currently moving at 106 level with the good upward trend. This commodity has shown its strength from 104 level. This commodity is expected to reach at 110 level in medium term time horizon.

Zinc: Zinc is trading around 103 level with the lower and decreasing volume from few days. This commodity comes up from 99 level due to short covering. Indicators are positive for long term traders. Investment for medium term will give higher returns.