DAILY COMMODITY MARKET STRATEGY-31 Mar 2015
Gold June and Platinum July futures are trading on a soft note at $ 1,183.70 and $ 1,119.70, respectively.Silver May future has slipped 0.5 per cent at $ 16,593.
Crude Oil May future has shed 1.2 per cent at $ 48.11.Brent Oil May has declined 0.7 per cent at $ 55.90.Natural Gas May future is down 0.2 per cent at $ 2.630.
The Crude Oil April MCX futures extended fall for the second straight day and gave a fresh break out below the key moving averages like the 20-50-DMAs, as profit-taking continued.
The energy futures started the week on a feeble note and tested a low of Rs 2,999, before signing off the day with a significant loss of 4.3 per cent (Rs 135) at Rs 3,017.
Yesterday, the energy futures tested a low at Rs 164, but however recovered losses and ended on a flat note at Rs 166, despite positive NYMEX Natural gas prices.
The MCX Natural Gas prices are seeking support at the lower-end of the Bollinger Band for the last two trading sessions.
Copper May future is down 0.2 per cent at $ 2.776.
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