Expert views on gold, crude, natural gas & copper

Ravindra Rao of Motilal Oswal feels that crude oil continues to trade in a very narrow range of Rs 4,920-5,025 per barrel levels and is taking a good resistance on higher side at around Rs 5,030-5,035 per barrel. Rao adds, “We recommend selling crude at Rs 5,035 per barrel with a stop loss of Rs 5,060 per barrel and we expect it might fall till Rs 4,950 levels.”

Atul Shah of Emkay Commtrade reckons that there was a huge built up of 28 billion cubic feet (bcf) in natural gas yesterday. Hence, he advocates selling natural gas on rallies August contract at the rate of Rs 172 per mmbtu for the target price of Rs 160 per mmbtu with a stop loss of Rs 178 per mmbtu.

Priyank Upadhyay of SSJ Finance & Securities believes that copper prices have given a breakdown below Rs 420 per kilogram levels. He suggests selling copper on rallies around Rs 420 per kilogram with a stop loss above Rs 423.50 per kilogram for targets of Rs 412 per kilogram.