MCX Gold Tips
MCX Gold edged lower on profit-booking, taking a pause after four days of gains on concerns about global growth and revived worries about the euro-zone debt crisis. MCX Gold suggest that prices have reversed after taking resistance at 28660 levels. RSI is in a sell mode. We expect prices to correct up to levels of 28400.
Trading Call:
Sell MCX Gold below 28600 with a stoploss of above 28700 for target of 28400.
MCX Silver Tips
MCX Silver suggest that prices have reversed after taking resistance at 56500 levels. Stochastic is in a sell mode. We expect prices to correct up to levels of 55000. MCX Silver prices are expected to trade within a broad range from 56600 to 55300,
Trading Call:
Sell MCX Silver below 56000 with a stoploss of above 56500 for target of 55000.
MCX Crude Tips
MCX Crude prices are expected to test 5350-5370 on higher end, one can buy on dips around 5280. MCX Crude Oil suggest that prices have reversed after taking support at 5235 levels. MACD is in a buy mode. We expect prices to go up to levels of 5350.
Trading Call:
Buy MCX Crude above 5280 with a stoploss of below 5235 levels for target of 5350.
MCX Copper Tips
MCX Copper fell to its lowest levels since mid-January, as signs of a worsening debt crisis in Europe and slowing growth in China fueled concern that demand for the metal will stall. MCX Copper suggest that prices are trading near a crucial support of 416. Stochastic is in a buy mode. We expect prices to go up to levels of 421 if the prices trades above 417.
Trading Call:
Buy MCX Copper above 417 with a stoploss of below 414 level for targets of 421.
