Commodity counters were trading mixed on domestic bourses on Monday amid mixed global cues. Traders were cautious as China reported a disappointing factory data, fresh violence erupted in Hong Kong and Donald Trump’s comment indicated steady progress on the US-China trade deal.

On NCDEX, castor seed, chana, guar gum and coriander were trading with marginal cuts. Cotton seed, meanwhile, slipped 1.5-2 per cent. Guar seed, mustard seed and refined soybean oil gained around 0.5 per cent in early trade.

On MCX, energy counters were trading with heavy cuts. Natural gas was down 3.15 per cent to Rs 193.90 and crude oil slipped 0.7 per cent to Rs 4,048.

Bullon counters, CPO were trading with marginal gains but base metals slipped on poor Chinese macro data. China is the biggest consumer of base metals.

Here is how SMC Global expects commodities to trade today:

Bullion: Bullion counter may edge up on Monday. Gold can take support near Rs 37,480 while facing resistance near Rs 38,000 and silver can take support near Rs 43,500 while facing resistance near Rs 44,480.

Base metals: Base metals may trade with a mixed bias. Copper may test Rs 446 while taking support near Rs 439. While zinc can trade with an upside bias testing Rs 198 while taking support near Rs 190. Lead may trade with a sideways-to-upward bias testing Rs 154 while taking support near Rs 159. Nickel may continue to fall towards Rs 1,150 while taking resistance near Rs 1,190. Aluminium may test Rs 138 while taking support near Rs 133.

Energy: Crude oil may witness profit booking at higher levels. Crude oil can dip lower towards Rs 4,000 while taking resistance near Rs 4,110. Natural gas can witness profit booking at higher levels as it can test Rs 196 while facing resistance near Rs 206.

Spices: Turmeric futures (Dec) are likely to remain below Rs 6,350 and move in a negative direction towards the Rs 6,050 level. Jeera futures (Dec) will possibly trade with a downside bias, break the near-term support of Rs 16,200 and even descend further to test Rs 16,000. Dhaniya futures (Dec) are expected to hold on to the support near Rs 6,630 and trade with an upside bias till Rs 7,000-7,100. Cardamom futures (Dec) may fall further towards Rs 2,300-2,250 due to lack of fresh cues of demand from the auctions.

Oilseeds: Soybean futures (Dec) are trading around their highest in around three-and-a-half years due to concerns over crop in Maharashtra and Madhya Pradesh. This bullishness is likely to continue and they can test Rs 4,100. Mustard futures (Dec) are expected to trade downwards towards Rs 4,220-4,210, facing resistance near Rs 4,280, owing to declining pace of demand from crushers. In days to come, CPO futures (Nov) are expected to trade further to test Rs 640-645, while soy oil futures (Dec) trend is bullish and can see Rs 810-815.

Other commodities: Cotton futures (Nov) may continue to take support near Rs 19,150, while on the contrary face resistance near Rs 19,380. Chana futures (Dec) may witness correction towards Rs 4,450-4,420, facing resistance near Rs 4,555. Mentha oil futures (Nov) are expected to trade higher towards Rs 1,290.

Source