Thursday, January 3, 2013

MCX Bullion Updates: Copper Tips For Today

MCX Bullion Updates:
In MCX gold has once again gone beyond Rs 31,000. Silver is trading above Rs 59,000. Rupee is also weak against dollar today. Gold and Silver have gained momentum after the Fiscal Cliff bill on Wednesday. Currently, with a gain of 0.25 per cent on MCX gold is trading at Rs 31135. The silver is about 0.5 percent higher at Rs 59130. Gold suggest that prices are trading near the crucial resistance of 31200 levels. Stochastic is in a sell mode. We expect prices to correct up to levels of 30800. Silver suggest that prices are trading near the crucial resistance of 59700 levels. MACD is losing its strength. We expect prices to correct up to levels of 58500.

MCX Copper Tips:
MCX Copper's current trend suggest that prices are trading near the crucial resistance of 455. Stochastic is going losing its strength. We expect prices to correct up to levels of 445. Sell MCX Copper around 454 levels with a stop loss placed above 457 levels for targets of 445 levels.

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