Thursday 3 July 2014

Payroll data and ISM non manufacturing PMI data key point for mcx commodity


mcx commodity affected US payroll data has come 6 pm and non manufacturing pmi data which will come at 7.30 pm ,
precious metal gold silver looked under pressure today, after opening . Gold traded at 27500 while open at 27564 and made high above 27634, today gold should be down below 27300 if touch 27350, more down fall will seen if break 27200 then 27000 look in gold august series.

Mcx silver traded above 44752 and open at 44938 made high 44938 and low side 44300 mcx silver break more down fall if slip below 44150 then 43700 can touch, up side 45150.
base metal copper ,nickel and aluminium, zinc, lead look uptrend on current contact, as well as crude oil made high 6244, while open below 6225 and low of day is 6208.

commodity calls today :

sell gold above 27550 target 27480/27400/27350 stoploss 27650
sell silver 44800 target 44700/44600/44500 stoploss 44850
sell crude oil above 6335 target 6220/6205/6180 stoploss 6255

1 comment:

  1. GOLD (5 AUG.) TREND: BEARISH
    RES 1: 28000
    RES 2: 28200
    SUPP 1: 27500
    SUPP 2: 27200
    STRATEGY: SELL ON HIGH
    Mcx Silver Tips

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