Rudra Investment Best Commodity Tips says, The fall in crude oil has gone deeper and Brent's price has come down to the lowest level in the last three weeks. It is trading below $ 75. In the last one week, there has been a massive decline of about 7.5 percent. Meanwhile, WTI Crude has also slipped to $ 66. Today the business is going down with a decline of 2-2.5 percent. Indeed, Saudi Arabia and Russia have indicated to increase the supply of about one million barrels daily. Meanwhile, production in the US is also increasing, and in the last two years, American production has increased by about 27 percent. In such a situation, the prices of crude oil have come under all-round pressure.
At the same time, gold is also weak today and it has slipped below $ 1300 in the global market, which is extremely dull. Today the volume is low due to holiday in the UK and USA. In China, the lead has dropped about 1 percent from the upper level of 7.5 months. Copper is also under pressure, but Zinc is trading on the edge. Today, the rupee is trading at 0.5 percent stronger than the dollar. Dollar price is below Rs 67.40 and the rupee has gone upwards to the last two weeks.
Currently, crude oil on MCX is slipping 2.75 percent and trading at 4,470 rupees. Natural gas is trading at more than 0.5 percent and is trading at Rs 199.4. At the same time, gold on MCX is trading 0.8% down at 30,935 rupees. Silver is trading 0.75 percent down at Rs 39,960.
The pressure in the metal is getting noticed. Copper on MCX rolled 0.4 percent and is trading at Rs 460.2. Aluminum is down 0.3 percent and is trading at Rs 152.6. Nickel is trading flat at 994.7 rupees. Lead is trading around 1 percent down to Rs 162.9. Zinc's trick is flat.
In agri commodity, NCDEX is trading above Rs 1,310 with a rise of about 1 percent on cotton prices. Barley is doing business with Rs 1,490.
Rudra Investment Best Commodity Tips
Natural gas MCX (June futures): Sell - 200, Stop-loss - 204 and Target - 190
Crude oil MCX (June futures): Sell - 4550, Stop-loss - 4650 and Target - 4380
Cotton Whole NCDEX (June futures): Buy - 1285, Stop-loss - 1240 and Target - 1340
Barley NCDEX (June futures): Buy - 1470, Stop-loss - 1440 and Target - 1505
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