Commodity Evening Technical Report

Ahmedabad, 10 April

ENERGY

MCX Crude Oil April future is stuck into the consolidation range. Where, It is facing hurdle near Rs.6700 and taking support of Rs.6500 mark. For the evening session mentioned level will be the important for the commodity. Breaching any of the level will lead to the further direction in the Crude Oil.

BULLION

MCX Gold June futures, started trading in the down-ward moving channel on intraday basis. Which is indicating weakness in the commodity. Negativity remains continue in the evening session where Rs.60,150 will work as an immediate support and resistance can be seen near the Rs.60,450 mark.

BASE METALS

MCX Copper future is forming ascending triangle pattern on the hourly chart. It is representing confusion regarding the next trend in the commodity. Rs.773 will work as a strong hurdle mark for the commodity. And if bulls manage to sustain above the hurdle then it may lead to the further positivity in the evening. Rs. 768 can consider as a short term support for the Copper.

(Evening Technical Report by Mr.Jatin Gohil, Technical & Derivative Analyst at Reliance Securities)

 (Disclaimer: The information provided here is investment advice only. Investing in the markets is subject to risks and please consult your advisor before investing.)

(સ્પષ્ટતા: અત્રેથી આપવામાં આવતી તમામ પ્રકારની માહિતી કોઇપણ પ્રકારે રોકાણ, ટ્રેડીંગ માટેની સલાહ નથી. બજારોમાં રોકાણ જોખમોને આધીન છે અને રોકાણ કરતા પહેલા કૃપા કરીને તમારા સલાહકારની સલાહ લો.)