Neha Qureshi is a senior manager, technical research analyst of commodities & currency. She is currently working with Anand Rathi Shares and Stock Brokers Ltd.
Neha Qureshi is a senior manager, technical research analyst of commodities & currency. She is currently working with Anand Rathi Shares and Stock Brokers Ltd.
Oil prices fell 1 per cent to $82.33 amid easing supply disruption concerns from Gaza ceasefire hopes and Hurricane Beryl's impact
Buy MCX July Crude Oil futures at Rs 6,950-7,000 with a stop loss of Rs 6,860 and a price target of Rs 7,250
On the daily chart, MCX Gold for August is hovering near its trend line support. A break below 70,750 could signal bearish sentiments, the analyst said
On the daily chart, MCX Copper has been unable to sustain the breakout of its rising channel pattern and has moved down, forming a lower high, lower low pattern, indicating bearish sentiment
OPEC is expected to extend its production cuts in an upcoming meeting, which has recently helped both WTI and Brent to break above their 100-day moving averages
Commodity trading: Copper prices have dropped 7 per cent since Monday's record high, with a significant intraday drop due to profit-taking
Despite ongoing conflicts and lower demand growth expectations, oil prices remain steady
On the daily chart, silver is showing a bullish trend with a pattern of higher highs and higher lows. Similarly, the Relative Strength Index (RSI) is mirroring this pattern, further indicating bullish
Brent crude strategy: Brent oil prices are expected to range between $75 to $90 per barrel,
Crude oil prices rose by 0.5 per cent to $78.48 on Monday amid volatility tied to hopes for an end to the Gaza conflict.