Sell MCX Crude oil below Rs 5860; target Rs 5830: Dani Comm

Dani Commodities' report on metals & energy

MCX Crude Oil closed at Rs 5903 per barrel, last week*Prices have been forming inverted head and shoulders, though the break of the right side shoulder is yet to occur*A bounce from Rs 5872 and 5850 per barrel is expected in Crude Oil contract*The breach of Rs 6107 on the higher side will be the confirmation of the rupture of the resistance, which will then be elevating Crude to levels of 6262 per barrel*Light Sweet Crude on NYMEX was trading at $ 93.59, down $ 0.25.

MCX CRUDE OIL
International: Major Support for WTI at USD100 Bullish above USD 100
Domestic: Sell below 5860, Stoploss 5885, Target 5830.

MCX GOLD
International: Major Support at USD 1250. Bearish below USD1250.
Domestic: Sell at 30400, Stoploss 30480, Target 30300.

MCX SILVER
International: Major Support at USD19. Bearish below USD19.
Domestic: Sell at 46800, Stoploss 47050, Target 46400.

MCX COPPER
Domestic: Buy at 439, Stoploss 437, Target 442.

MCX NATURAL GAS
Domestic: Sell at 233, Stoploss 235, Target 230.

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