Rudra Investment Best Commodity Tips provider says that Due to the increase in OPEC supply, the decline in crude oil has gone deeper and crude has plunged below $ 70 on the NYMEX. Brent's prices also fell by about 0.5 percent. In fact, OPEC has increased crude production at 70,000 barrels per day this month. The market's eye will remain on the inventory data of crude oil today.
Meanwhile, there has been a huge decline in Zinc on the London Metal Exchange. With the fear of a downside in China, the price has slumped by nearly 1 percent. This month, it has dropped about 11%, which is the biggest monthly fall of 7 years. Copper also declined by about 7% this month, which is the biggest monthly fall of 2 years.
There is also pressure on gold and silver in the global market due to recovery in the dollar. Gold prices on the Comex slipped below $ 1220. Silver is also below $ 15.5. Although there is a weak weakness in the rupee today.
Rudra Investment Best Commodity Tips
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NCDEX Coriander (August futures):
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Buy - 5150
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Target- 5220
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Stop Loss - 5120
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NCDEX Guarseed (October futures):
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Sell - 4300
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Target-4450
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Stop Loss - 4240
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NCDEX Soybean (October futures):
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Sell - 3400
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Target-3300
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Stop Loss -3430
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