Opec oil output hits 3-year high in June

BULLION:-

In June the increase in sales amounted to even a surplus of nearly 60 per cent, which makes it the fifth highest monthly balance of the recent three and a half years.

BASE METAL:-

Base metals sector, most of metals are trading on a flattish to lower side as the market awaits the economic data from US later in the evening . As per the latest updates, the cancelled warrants for Copper rose to reach the high of last year due to rise in the demand from Antwerp.

ENERGY:-

OPEC oil supply in June has climbed to a three-year high due to record or near-record output from Iraq and Saudi Arabia, a Reuters survey found, underlining the focus of the group’s top exporters on market share.

 

TREND : - BEARISH RESISTANCE : – 26265, 26345.

SUPPORT : – 26150, 26550.

STRATEGY : – BUY ON DIPS.

 TREND : - BEARISH RESISTANCE : – 35390, 35850.

SUPPORT : – 34650, 34160.

STRATEGY : – BUY ON DIPS.

TREND : - CONSOLIDATE RESISTANCE : – 3305, 3360 .

SUPPORT : – 3235, 3200.

STRATEGY : – SELL ON HIGH

TREND : - CONSOLIDATE RESISTANCE : – 175.00, 181.00 .

SUPPORT : – 167.00, 162.00 .

STRATEGY : – BUY ON DIPS

 

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