25 June 2016

Weekly Commodity Report 27 June 2016 to 01 July 2016

Weekly Support & Resistance for CRUDE OIL  

Resistance: 3370-3450

Pivot: 3200

Support: 3100-3000

CRUDE OIL: After highly observed key event of BREXIT referendum. Commodity market also witness impact on risky asset. Crude oil also follows the track of stock market and decline to level of 3209.

For next week ahead if crude oil breaks and trades below 3200 next possible TGT would be 3100-3040.

Gold : Gold open on higher note and also registered high of Rs 31900 in MCX AUG contract.Week ahead buying on dips strategy can be used to trade gold with stop loss below 30500. High volume on breakout day also valid breakout.

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