MCX DAILY REPORT AND MCX TRADING CALLS
There will be small phases of big one-way price move followed by a long period of consolidation. Crude oil looks bearish. Base metals has a tendency of showing abrupt price moves whenever UK is open and USA is closed.
Gold August 2022: (previous day close/CMP Rs.50834.00)
Daily Support/Resistance:50478 & 51190
Silver July 2022: (previous day close/CMP Rs.60937.00)
Daily Support/Resistance:60380 & 61407
Crude oil 19th July 2022: (previous day close/CMP Rs.8373.00)
Daily Support/Resistance: 8125 & 8323 and 8479
Natural gas 27th June 2022 (previous day close/CMP Rs.543.10):
Daily Support/Resistance: 526.50 & 553.80
INTRADAY VIEW: (a) NG will crash if it trades below 526.50 to 508.60 and 489.10. (b) Ng needs to trade over 553.80 to be in an intraday bullish zone.
Copper June 2022: (previous day close/CMP Rs.741.15)
Daily Support/Resistance: 729.20, 735.40 & 746.80, 753.20
Zinc June 2022: (previous day close/CMP Rs.311.35)
Daily Support/Resistance: 307.90 & 314.70
INTRADAY VIEW: (a) Zinc has to trade over 307.90 to rise to 318.80. (b) Zinc will crash if it trades below 307.90.
Aluminum June 2022: (previous day close/CMP Rs.215.35):
Daily Support/Resistance: 211.60 & 219.10
INTRADAY VIEW: (a) Aluminum will crash if it trades below 211.60 to 208.60 and 205.40.
Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Website www.insigniaconsultants.in Prepared by Chintan Karnani
Disclosure: Members, employees, directors, clients and all other people associated with “Insignia consultants” do trade in MCX metals and energies. They may or may not have positions on the trading strategies mentioned in this report. They may also have open positions in MCX metals and energies futures in trading strategies other than those mentioned in this report.
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NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED
APPROPRIATE STOP LOSSES PER LOT IN INDIAN RUPEEES ON THE TRADING CALLS GIVEN IN THIS REPORTTHE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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