MCX COMMODITY MARKET NEWS & LEVELS - 27 JUN 2016

BULLION:
Gold prices pulled back from two-year highs but remained supported on Friday, as the U.K.’s surprise decision to leave the European Union in a landmark referendum continued to boost safe-haven demand. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery surged 5.10% to $1,327.50.

BASE METAL:

LME copper may fall back to USD 4,660-4,710mt during Asian trading hours Monday with growing risk aversion sentiment. Markets will continue digesting the influence of UK’s exit from EU this week with eyes on the Bank of England (BoE)’s meeting result due for Tuesday and manufacturing PMI from Europe and UK for June.

ENERGY:
Oil sunk nearly 4% in European trade on Friday, erasing overnight gains, after the official results from U.K. vote on membership in the European Union (EU) gave the victory to Brexit, as the decision to leave is known, and the dollar moved higher. The U.K. voted by a substantial margin to exit the EU, with the Leave side winning 52% of the vote, against 48% to remain.

BULLION & ENERGY

CS GOLD (AUGUST) OVERVIEW:

TREND : BULLISH
RESIST 2: 32150
RESIST 1: 31950
SUP 1: 31350
SUP 2: 31250
STRATEGY: BUY ON DIPS

CS SILVER (JULY) OVERVIEW:

TREND : BULLISH
RESIST 2: 43250
RESIST 1: 42990
SUP1: 42000
SUP2: 41730
STRATEGY : BUY ON DIPS

CS CRUDE OIL (JULY) OVERVIEW:                      

TREND :BEARISH
RESIST 2:3360
RESIST 1:3300
SUP1:3200
SUP2:3130
STRATEGY: SELL ON RISE

CS NATURAL GAS (JULY) OVERVIEW:

TREND : BULLISH
RESIST 2:190
RESIST 1:188
SUP1:182
SUP2:179
STRATEGY: BUY ON DIPS

BASE METAL   

CS COPPER (AUGUST) OVERVIEW:              

TREND :BULLISH
RESIST 2:330
RESIST 1:327
SUP1:321
SUP2:318
STRATEGY: BUY ON DIPS

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