✅✅TECHNICAL UPDATE:
Silver July MCX is trading near 106984, posting a fresh all-time high and reinforcing strong bullish sentiment. The breakout opens the door for further upside toward short-term targets of 108000 and 112000, driven by positive momentum. The trend remains firmly bullish as long as the price holds above key support zones. Immediate support lies at 104000, with a deeper cushion seen around 102500. Sustained strength above current levels may attract fresh buying interest, while pullbacks toward support zones could provide accumulation opportunities. Technical indicators favor continued upside, making any corrective dip a potential entry point for positional traders.
Silver July MCX is trading near 106984, posting a fresh all-time high and reinforcing strong bullish sentiment. The breakout opens the door for further upside toward short-term targets of 108000 and 112000, driven by positive momentum. The trend remains firmly bullish as long as the price holds above key support zones. Immediate support lies at 104000, with a deeper cushion seen around 102500. Sustained strength above current levels may attract fresh buying interest, while pullbacks toward support zones could provide accumulation opportunities. Technical indicators favor continued upside, making any corrective dip a potential entry point for positional traders.
✅✅TECHNICAL UPDATE:
Copper MCX is trading with a bullish bias, supported by strong price action above key moving averages. The short-term trend remains positive as long as it sustains above ₹870 support. Immediate resistance is seen at ₹885, and a breakout above this level could trigger a rally towards ₹900. The Relative Strength Index (RSI) remains in bullish territory, indicating momentum strength. However, mild consolidation may occur before the next move. A dip towards ₹870–₹875 may offer a buying opportunity. Overall, the technical setup favors a continuation of the uptrend in the short term, with key support zones offering strong base formation.
Copper MCX is trading with a bullish bias, supported by strong price action above key moving averages. The short-term trend remains positive as long as it sustains above ₹870 support. Immediate resistance is seen at ₹885, and a breakout above this level could trigger a rally towards ₹900. The Relative Strength Index (RSI) remains in bullish territory, indicating momentum strength. However, mild consolidation may occur before the next move. A dip towards ₹870–₹875 may offer a buying opportunity. Overall, the technical setup favors a continuation of the uptrend in the short term, with key support zones offering strong base formation.
✅✅CRUDE OIL UPDATE:
Crude oil prices were stable on Monday as investors awaited U.S.-China trade talks in London in the hope that a deal could boost the global economic outlook and subsequently fuel demand.
A trade deal between the U.S. and China could support the global economic outlook and in turn boost demand for commodities including oil.
Monday's talks could dampen the impact on prices of a slew of Chinese data releases, said IG market analyst Tony Sycamore.
Chinese export growth slowed to a three-month low in May as U.S. tariffs curbed shipments while factory gate deflation deepened to its worst in two years, heaping pressure on the world's second-largest economy at home and abroad.
Crude oil prices were stable on Monday as investors awaited U.S.-China trade talks in London in the hope that a deal could boost the global economic outlook and subsequently fuel demand.
A trade deal between the U.S. and China could support the global economic outlook and in turn boost demand for commodities including oil.
Monday's talks could dampen the impact on prices of a slew of Chinese data releases, said IG market analyst Tony Sycamore.
Chinese export growth slowed to a three-month low in May as U.S. tariffs curbed shipments while factory gate deflation deepened to its worst in two years, heaping pressure on the world's second-largest economy at home and abroad.
BREAKING: Chinese exports to the US dropped -34% in May, the steepest fall since February 2020.
This marks the 2nd consecutive monthly decline as US demand for Chinese goods continues to contract.
This sharp decline came despite a May 12th trade deal agreement that temporarily reduced tariffs on Chinese imports to 30%.
The drop also more than offsets the +11% increase in Chinese exports to the rest of the world.
This marks the 2nd consecutive monthly decline as US demand for Chinese goods continues to contract.
This sharp decline came despite a May 12th trade deal agreement that temporarily reduced tariffs on Chinese imports to 30%.
The drop also more than offsets the +11% increase in Chinese exports to the rest of the world.
❇️ Cotton Update:
✅ The Indian cotton market remains subdued, with minimal activity and weak demand. The Cotton Corporation of India (CAI) is facing difficulties in liquidating its stock as mills hesitate to buy due to financial constraints.
✅ Moreover, CAI’s recent weak data also putting pressure on already dampening market tone as ending stocks are projected to increase to 32.54 lakh bales by September 30, 2025, indicating a more comfortable supply scenario.
✅So, revival in prices seems bleak at present until buying interest emerges.
✅ The Indian cotton market remains subdued, with minimal activity and weak demand. The Cotton Corporation of India (CAI) is facing difficulties in liquidating its stock as mills hesitate to buy due to financial constraints.
✅ Moreover, CAI’s recent weak data also putting pressure on already dampening market tone as ending stocks are projected to increase to 32.54 lakh bales by September 30, 2025, indicating a more comfortable supply scenario.
✅So, revival in prices seems bleak at present until buying interest emerges.