Thursday, April 12, 2012

Free Commodity Tips and Trend For Today: 12th April '12

MCX Gold Trend

Intraday bias most likely to be on the negative side, which may test the downside support of 28250/28160 initially for a swing higher. Even in this intraday weakness, a vertical rise above 28500 region may show the way towards 28580/650 or even higher towards 28790.

MCX Silver Trend

Prices have been congested inside the range of 56500-55600 regions for the last few days. Though, either side breakout would be required for fresh directional moves, For the day, we favour a downside break out which could take prices lower.

MCX Copper Updates

Choppy with positive bias session is expected but it required to consistently trade above 419.50 to sustain the momentum. However, an unexpected sell off below 415 could resume prolonged selling pressure again.

MCX Crude Tips

As long as 5280 region holds the support, expect a push higher towards 5335/5360 territory. Slippage past 5280 levels could take prices lower targeting 5250/5230 areas. However, a scenario of a prolonged bullishness could open up if thrust past 5380 on a consistent basis.

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