Live MCX Commodity Tips For 2nd April '12

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MCX Gold Tips

MCX Gold June as seen in the weekly chart above has initially moved sharply higher but found very strong Resistance at 28880 levels. Later prices fell sharply towards 28501 levels and finally closed marginally lower from the previous weeks closing levels.

MCX Silver Tips

MCX Silver May as seen in the weekly chart above has initially moved higher, and as expected found very good resistance at 57949 levels. Later prices fell sharply towards 56401 levels, and finally closed lower from the previous weeks closing levels.

Trading Call: Sell MCX Silver May below 57130, Stoploss: 58051, Target: 56200-55900.

MCX Copper Tips

MCX Copper April as seen in the weekly chart above has initially moved sharply higher, and as expected found strong resistance at 440.40 levels. Later prices fell sharply towards 428.60 levels and finally closed marginally lower from the previous weeks closing levels.

Trading Call: Sell MCX Copper April below 434.90, Stoploss: 439.50, Target: 427-422.

MCX Gold and Silver Updates For Today: 31st March '12

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Due to lack of clear signals from the international market, gold and silver is being witnessed in the weak business. Light falling on MCX gold is trading down to Rs 28076. Silver on MCX has recovered slightly and was trading below Rs 56795.

Spot gold has fallen below the 200-day simple moving average again and formed a death cross, a technical sell sign, for the second time in less than four months.

This could be a more reliable sell signal than the death cross that appeared in mid December and point to a bearish 2013 for the gold market because a repeat death cross can indicate that the market is ready for a sharp correction.

Taking cues from rise in gold prices coupled with upside in base metals pack, spot silver rose around 0.6 percent till 4.30 pm IST today. Additionally, weakness in the US dollar index also acted as a supportive factor for the white metal prices.

MCX Gold Silver and Copper Updates For Today: 30th March '12

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MCX Gold Tips

Intraday penchant probably moving with a negative aspect targeting 27980/27930 or even lower 27800. Even in this bearish sentiments, unexpected move above 28300 region could claw back buying interest with an objective of 28400/28480 or even elevate to 28550

Trading Call: Buy around 28150 levels with a stop loss placed below 28050 levels for targets of 28425 levels

MCX Silver Tips

Probably a range trading session inside 58000-56100 is being expected for the day. Either side breakout would confirm fresh directional moves later. MCX Silver suggest that prices have reversed after taking support at 56500 levels. Stochastic is in a buy mode. We expect prices to go up to levels of 57500.

Trading Call: Buy around 56800 levels with a stop loss placed below 56400 levels for targets of 57500 levels.

MCX Copper Tips

Copper prices are holding the middle bollinger band on closing, can test 434- 435 on higher end which seems a good resistance for the metal. Oscillators indicating range bound move ahead. MCX Copper has a intraday support at 426 and a resistance at over 435.

Trading Call: Buy around 431 levels with a stop loss placed below 428 levels for targets of 435 levels.

Gold Silver Updates, MCX Silver Tips For Today: 29th March '12

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MCX Gold Tips

Our Commodity report suggest that Gold prices are taking support near a crucial support of 28100. Stochastic has given a positive crossover. We expect prices to go up to levels of 28425.

Trading Call: Buy around 28100 levels with a stop loss placed below 28000 levels for targets of 28425 levels.

MCX Silver Tips

MCX Silver suggested that prices are trading close to a crucial support of 56500. Stochastic has given a positive crossover. We expect prices to go up to levels of 28425.

Trading Call: Buy around 56500 levels with a stop loss placed below 56000 levels for targets of 57500 levels.

MCX Gold Silver Tips and Copper Updates For Today

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MCX Gold Trend

Intraday weakness seen only by a solid breakout below 27730 region and such moves could find support at 27640/500 or even lower towards 27350. But failed attempts to break 27730 region may lure buying interest firstly towards 27920/28080 or even higher towards 28200.

MCX Silver Trend

To maintain a positive bias, prices still need to win over the upside hurdle of 57600 region and such moves could test upside region of 58200/58700 or even higher towards 59300. Conversely, a vertical fall below 56300 region may scale down prices towards 55800/55000 or even lower to 54600.

MCX Copper Trend

The auxiliary weakness is likely to find support near 430/429 region for a turn higher towards 435, above this level could see prices pushing higher towards 438/440 territory. Major weakness could creep in below 428 region targeting 426/424 area.

MCX Crude Trend

As long as 5435 region caps upside, expect prices to trade lower towards 5380 region. Break above the same could see prices targeting 5475/5500 region. On the contrary, fragment past 5375 region could see prices revisiting lows of 5350/5325 region.