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 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.

Copper Updates and MCX Commodity Tips For Today

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MCX Gold Trend

Gold is expected to trade lower during the week, taking cues from expected strength in the US dollar coupled with poor market on account of deepening worries over global economy.

However, depreciation in the Indian Rupee may cushion sharp downside on the domestic bourses

MCX Gold April: Support 27851/27595 Resistance 28255/2841

We recommend a buy above 28200 levels with a stop loss placed below 28000 levels for a target of 28700 levels.

MCX Copper Updates

Rising uncertainty with respect to global economic growth may affect demand for industrial metals. Additionally, strength in the US dollar will also exert further downside pressure on copper prices. However, fall in the red metal inventories may cushion sharp decline in prices.

Weakness in the Indian currency may provide support to the metal prices on the domestic platform.

MCX Copper Support 428.20/424.10 Resistance 436/440(CMP: 434.10).

MCX Silver Tips

The daily price chart suggest that prices have reversed after taking support of 56000 levels. Prices are currently trading close to a crucial resistance 57400. RSI has given a positive crossover.

We recommend a buy above 57400 levels with a stop loss placed below 56000 levels for a target of 59200 levels.

MCX Copper Updates and Trend For Today

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MCX Copper may note some gains tracking international exchanges however the bias remains negative. LME copper trades higher in early trades today after noting sharp gains yesterday. Prices may seek support from improving pace of recovery in US and expectation of tightness in physical markets amid falling stocks at LME and supply constraints. Copper stocks at LME warehouses continued to decline and fell by 2,875 tons yesterday to hit the lowest level since July 2009 while cancelled warrants hovered near 32%, signaling strong physical demand. However persistent worries over weakening demand from China and rising stocks at SHFE warehouses are capping the upside. Further prices may come under pressure amid growing fears of recession in Euro Zone, weakness in global equities and firmness in US Dollar. Prices may further track economic releases and its impact on movement in global equity and currency markets. As for today, focus will be on US New Home Sales. Support for April copper is seen at Rs.426 while resistance is seen at Rs.436.

courtesy: myiris.com

Copper Updates, Free Commodity Tips For Today

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Copper Updates

After consolidating for the last few days, prices have cleared the recent swing support of 428.50 in the early session. Looking ahead prices have more room for further sell off towards 425 followed by 421/417 levels. It has to trade consistently above 436 to dent our bearish expectations.

Copper prices are expected to trade within the range from 433 – 426, one should trade within the range. Oscillators are in positive territory.

MCX Gold

Trading Call: Buy around 27850 levels with a stop loss placed below 27700 levels for targets of 28100 levels.

MCX Silver

Trading Call: Sell around 56800 levels with a stop loss placed above 57200 levels for targets of 56000 levels.

MCX Crude Oil

Trading Call: Sell around 5450 levels with a stop loss placed above 5475 levels for targets of 5400 levels.

MCX Copper Tips

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