Market Update

Market Watch

Wednesday 12 June 2013

Mcx Commodity Tips Blog



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Market Wrap
·         Gold futures slide below 1380$

·         Copper futures for delivery in July slid 1.7 percent

·         Crude oil slide below 95$

·         Silver futures for July delivery slide 1.3%

·         Natural gas for July delivery fell 1.7%



Copper futures for delivery in July slid 1.7 percent to $3.187 a pound on the Comex in New York, heading for the biggest loss since May 23. Prices touched $3.173, the lowest for a most-active contract since May 3. Gold for August delivery slid 0.8 percent to $1,375.20 an ounce at 12:10 p.m. on the Comex in New York. Earlier, prices fell to $1,364.50, the lowest level since May 23.
 

TECHNICAL VIEW

GOLD (APR) 

Trend       • Consolidate

Strategy      • Sell on high

Resistance  • R2 - 28450 ;  R1 - 28180
support       • S1 – 27780 ; S2 – 27250



SILVER (MAY)
Trend          • Bearish

Strategy      • Sell on high   

Resistance  • R2 - 45750; R1 - 44870             
support       • S1 - 42850; S2 – 41500



LEAD (APR)

Trend          • Consolidate

Strategy      • Sell on high   

Resistance  • R2 - 127.5; R1 - 124.8           
support       • S1 - 121.3  ;S2 –118.5



ZINC (APR)

Trend          • Consolidate

Strategy      • Sell on high   

Resistance  • R2 - 111.7; R1 - 108.8          
support       • S1 - 105.5;   S2 - 102.3

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