Any breach below 1,340-1,350 would crash Nickel's prices till 1,300
The trend for aluminum has shifted from 'neutral' to 'positive'
In gold, fresh selling can commence below 46,800 levels while buying can commence above 47,300.
Gold's next move is expected on Friday when the US Labor Department releases its non-farm payrolls report for May
Crude oil prices are above their daily 5, 8, 13, and 21 day moving average envelope, which is in bullish sequential order
We are bullish on gold and expect gold to test Rs 48,800- Rs 49,400 this week
After a year of limited activity, several economies are expecting a faster-than-usual bounce back to normal. This has led to an increase in commodity prices across the board
If prices gets lower around Rs 46,650 during Akshaya Tritiya 2021, we would recommend investors to buy
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
Many investors expect more gains as the world pulls out of the pandemic
Meanwhile, spot gold was down 0.2% at $1,769 per ounce by 0910 GMT.
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
Another surprise build up in US inventory also helped the crude oil prices pushing down below 4,600 but overall trend still is bullish as there is no reversal pattern on daily chart
Any trend reversal for crude oil will only be validated below the 4,350 region
The euro touched a one-month high of $1.2183
Exhaustion is being witnessed in Copper as on daily scale, there has been an emergence of 'Bearish Engulfing' candlestick pattern