Monday, May 21, 2012

Commodity Markets: Buy MCX Gold and Crude Today

MCX Gold Tips

MCX Gold is looking bullish in near term trading on technical charts. However it had got a low of 28000 in this month. But from here it is looking solid for short term trading. Today it has a criticle support level of 28825 and a strong resistance level of 29450. After a long period of down fall in gold it is rising again with a huge buyinh pressure now. We suggest to Buy MCX Gold June around 29050, with a Stoploss of 28950, Targets are 29200 and 29350.

MCX Crude Tips

MCX Crude oil is another commodity which had lost its all bull trend this month. Now it is trading at 5145 level. Technicle charts are suggesting that mcx crude will trade beween 5100-5250 levels, that is a good sign for short term investors. For Today is has a criticle support level of 5060 and a fully strong resistance level of 5200. MCX crude is also trading with buying pressure. We suggest to Buy MCX Crude june above 5115, with a stoploos of 5085 and the taget should be 5155 and 5165.

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