{"id":86450,"date":"2018-07-16T15:56:11","date_gmt":"2018-07-16T15:56:11","guid":{"rendered":"http:\/\/www.bnreport.com\/commodity-outlook-sideways-consolidation-likely-for-silver-expect-pullback-in-nickel\/"},"modified":"2018-07-16T15:56:11","modified_gmt":"2018-07-16T15:56:11","slug":"commodity-outlook-sideways-consolidation-likely-for-silver-expect-pullback-in-nickel","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/commodity-outlook-sideways-consolidation-likely-for-silver-expect-pullback-in-nickel\/","title":{"rendered":"Commodity outlook: Sideways consolidation likely for silver, expect pullback in nickel"},"content":{"rendered":"

NEW DELHI: Bullion counter traded higher while crude oil and base metals slipped into the negative territory on Monday. Here's a lowdown on how key commodities are likely to shape up in the evening trade, as provided by Motilal Oswal Financial Services<\/a>. <\/p>\n

Base metals<\/strong>
Copper:<\/strong> Short term trend remains bearish in MCX Copper as long as Rs 426 is capped. Intraday expected trading range is Rs 417 \u2013 Rs 426. <\/p>\n

Nickel: <\/strong>Pullback is expected in MCX Nickel as long as price stays above Rs 935. Intraday expected trading range is Rs 935 \u2013 Rs 975. <\/p>\n

Zinc:<\/strong> Zinc is still weakest of the lot and there is no bullish signal visible yet. Trend remains bearish below Rs 179. It has immediate resistances at Rs. 175 \u2013 Rs 176, whereas supports are at Rs 170 \u2013 169. Selling on rise is advised. <\/p>\n

Lead: <\/strong>MCX Lead is facing stiff resistance at Rs 150 \u2013 Rs 151 levels. Trend remains bearish as long as price stays below the same. Selling is advised targeting lower supports at Rs 147 \u2013 146. <\/p>\n

Aluminium: <\/strong>MCX Aluminium remains bearish below Rs 141. Sideways consolidation is expected in the range of Rs 141 \u2013 Rs 138. <\/p>\n

Crude oil: <\/strong>Trend remains bearish in MCX Crude oil as long as Rs 4,860 \u2013 Rs 4,880 zone curtains the higher side. Intraday supports are at Rs 4,740 \u2013 Rs 4,700 zone. Selling on rise is advised. <\/p>\n

Natural Gas: <\/strong>MCX Natural Gas remains bearish below Rs 193. Selling on rise is advised. Lower supports are at Rs 187 \u2013 Rs 185 zone. <\/p>\n

Bullion counter:<\/strong> MCX Gold<\/a> is stuck in a range of Rs 30,100 \u2013 Rs 30,270 and either side sustained breach could be decisive. Higher resistance is at Rs 30,370 whereas lower support is at Rs 30,000 level. <\/p>\n

Silver:<\/strong> MCX silver<\/a> has immediate resistance at Rs 39,250 \/ Rs 39,420 whereas supports are at Rs 38,950 \/ Rs 38,800. Sideways consolidation is likely. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

[contf]
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\n <\/p>\n

ET Markets<\/a><\/h5>\n

[contfnewc]
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