Commodity Picks

On the downside, the MCX Crude Oil futures have near support at Rs 7,205 and Rs 7,027 levels. Meanwhile, if Natural Gas futures sustain above Rs 492, they can rally past the Rs 535-level.

On the downside, near support for Gold futures seen at Rs 49,860, below which re-test of Rs 48,900-level seems likely; Silver futures face an uphill task of conquering multiple hurdles on the upside.

The bias for MCX Crude Oil September futures is likely to favour the bears as long as the commodity trades below Rs 7,170; For MCX Natural Gas futures the key support range of Rs 630 - Rs 620.

The overall bias for Crude Oil remains negative, however, select momentum oscillators have turned positive on the daily chart. Natural Gas futures could see sharp directinal moves, hints ADX indicator

This week, the MCX Gold October futures could consolidate in the range of Rs 51,150 to Rs 52,870; Silver futures need to break above Rs 58,835 for gaining strength.

The MCX Gold futures need to cross and sustain above Rs 51,350 to regain upward momentum; Silver futures has near support at Rs 56,100.

The MCX Crude Oil has near support at Rs 7,740, below which it can slide towards the 200-DMA at Rs 7,100. Natural Gas may test Rs 410-odd level, while a bounce to Rs 500-odd level cannot be ruled out.

The MCX Natural Gas futures are likely to trade with a bullish bias for the remainder of the week as long as prices sustain above Rs 709.50.

The upside for MCX Gold June futures seem capped around Rs 51,500-odd level; while MCX Silver futures are likely to face strong resistance in the Rs 64,200 - 64,800 range.

The MCX Gold futures seem to be facing considerable resistance around Rs 52,250 as per the monthly charts. Similarly, the upside for Silver seems likely to be capped around Rs 64,200-64,750 odd levels

The MCX Crude Oil futures may seek support around the 50-DMA at Rs 7,716; while the bias for Natural Gas is likely to remain bullish as long as it sustains above Rs 525.

Price hikes to pass on the costs will be difficult amid falling volumes

Despite base metals showing healthy upside this week, silver continues to drift downside

Any breach below 1,340-1,350 would crash Nickel's prices till 1,300

Air travel is on the rise in the US and despite severe cases of Covid in India and Brazil, rest of world is coming out of the pandemic

Air travel is on the rise in the US and despite severe cases of Covid in India and Brazil, rest of world is coming out of the pandemic

Gold has made double bottom around 44,150 and bounced back sharply

Copper needs a decisive breakout below 657 for sellers to get active

Range breakout for gold comes above 45,300

For Copper sellers to gain upperhand, they must breach the support of 668 levels