Commodity Markets Forecast for the Coming Week (13th – 17th June ’11)
MCX Commodity:
Nickel
In MCX Commodities Nickel could be bullish, as we saw, last week nickel was consolidating around lower levels. So, in the coming week we could expect some short covering in it around lower levels. So, for the next week in nickel one should go for buy on lower levels strategy. If it sustains above the level of 1035 then above the level of 1041 it could reach around the level of 1058.
NCDEX commodity:
Soybean
In NCDEX Agri Soyabean could be bearish. Last week it was not sustaining at higher levels. So, for the coming week in soybean, one should go for sell on higher levels strategy. If it sustains below the level of 2340 then below the level of 2325 it could reach around the level of 2300.
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