Sunday, September 9, 2012

MCX Gold Tips and Crude Updates

MCX Gold Tips

Gold is trading on a down position in the international market as well as in domestic also. Gold has traded flat on COMEX in last session, Now it is trading at $ 1738. In MCX, Gold has closed its trading at 31880 with a decline of 0.27 per cent in last week. Technically gold is suggested to trade flat on MCX. Tips and trend suggest that MCX Gold is looking weak for intraday trading but MCX Gold has a golden trend for mid term. MCX Gold has a strong resistance at 32300 level with a support level at 31440 level in downside. MCX Gold Tips for today is to Buy only above 32000 with a stop at 31744 else Below 31725 go for sell.

Crude Updates

NYMEX crude oil is trading with a slight decline, while prices are at the level of 93 dollars per barrel. In the third stimulus package in U.S. crude oil is climbing excursions. MCX crude traded flat despite last week and manage to close above Rs 5300. Crude Updates are suggesting that currently Crude oil is in sell position, Crude Updates are Crude oil is in sideways and sellers was at high so for short term better buy above 5391 or hold with stop at 5212. The next resistance will be at 5438.0 The oscillator is showing BUY signal.

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