Bullish commodities today

Nickel prices fell initially in the week, within some days the contract reversed sharply higher.
The downward pressure of nickel was short lived and after that it surged over 6% from its low.
Currently Nickel was trading at Rs.907 per Kg.
The nickel prices are expected to trade sideways from 910 to 875. On Thursday’s session it seems bullish momentum in market.
According to Cotton Association of India, the cotton output is expected to decline by 10% in this year.
Due to the extensive attack of pink boll worm in growing states of Maharastra, the cotton harvest remains flat. Cotton creates a demand in future and the value of cotton gets increased.
Gold prices are expected to trade positive in today’s market. The traders can buy gold within the range of 30,300 with a stop loss of 30,250 for the target 30500 to 30550.
Due to OPEC report, the world oil demand grows by 1.62 million barrels per day in 2018.
The oil prices were steady on Thursday by the rise in US oil production. Prices of crude oil receiving support from the healthy demand.

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