MCX Gold has hiked 77 points at 28587 while Silver is 96 points up at 38400. Crude Oil has moved 24 points up at 2825. Copper and Aluminium are trading with minor hike at 375.20 and 120.15 respectively.
Crude oil traded with more of a positive sentiment to start the week yesterday. a note from Goldman Sachs European energy team added that the current prices are likely unsustainable in the long run which supports the prices for the time being though being for the short time. Perhaps this sideways movement was expected to happen due to sell-off being continuous from past few weeks.
SELL: CRUDE OIL JUL BELOW 2750 TARGETS 2700/2650 STOPLOSS 2800
RESISTANCE2: 28900 RESISTANCE1:28700