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MCX Gold Tips
MCX Gold prices are expected to trade in a range from 27700 to 28000, one can trade within the range.fresh buying only above close of 28000.
Trading Tip: Buy MCX Gold Apr between 27600-27700, Target: 28300, Stoploss: 27100.
MCX Silver Tips
MCX Silver broke out from the inverted head and shoulders pattern and the down trend line resistance line, however failed to sustain above these resistance levels. This kind of failures leads to opposite reaction or sideways movement. Hence, we now maintain our bias sideways to down.
Trading Tip: Sell MCX Silver At cmp 57238, Target: 53500, Stoploss: 59370.
MCX Crude Tips
MCX Crude is a triangular pattern of which wave c appears to be completed, hence it is still expected to move sideways in the triangle. However, the triangle is a symmetrical one in the wave 4 which will eventually break on the upside. The Bollinger bands have started narrowing down, once an upside breakout is in hands the bands will expand which will lead to a thrust in wave 5 up. So, we continue to maintain our bias up.
Trading Tip: Buy MCX Crude Near 5260-5300, Target: 5500, Stoploss: 5230.
MCX Copper Tips
Copper has been moving up in an upward sloping parallel channel, so it can touch the upper end of the channel i.e. 446; however the risk-reward doesn’t favor the bulls as of now. So, one can sell near 446 for the target 418 which is its 20 DMA.
Trading Tip: Sell MCX Copper Near 446, Target: 415, Stoploss: 451.
