Tuesday, June 12, 2012

MCX Copper Tips and Crude Updates Today

MCX Copper Tips

Today morning base metals are trading slightly positive by 0.09 to 0.2 percent at LME electronic platform. At MCX, base metals may likely open on a positive note for the day. Copper prices are expected to witness a range bound move as from 414 to 406, one can look for buying opportunity around 409 with a stop loss below 405. Fresh buying could witness above 415.

MCX Crude Oil Tips

During early Asian session, oil prices are seen hovering near $83/bbl with fall of more than 0.40 percent from yesterday’s closing. Investors must be cautious ahead of inventory report releasing tonight, which is expected to give a positive indication for prices. We may suggest remaining on selling side for the day. Crude prices are witnessing a range bound move. one can buy around 4620 with a stop loss of 4580 targeting 4685–4700. Oscillators suggesting a flat to positive move ahead.

Copyright © MCX NCDEX Commodity Tips Design by O Pregador | Blogger Theme by Blogger Template de luxo | Powered by Blogger