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Crude oil Price For Today, Gold Updates
MCX GOLD
MCX Gold is looking consolidate to positive in today's trading. As we have suggested before MCX Gold is trading in a range bond of 29800-30500. In its last 7 trading session it doesn't cross these levels. The technical report suggest that these levels can be break to upside in comming sessions. Gold may get its higher position of the month in short term trading. Although MCX gold has a resistance of 30550 with a support level of 30000 for today. We suggest to buy MCX Gold for short term trading.
MCX Crude Oil
MCX curde is faceing a huge fall after getting its all time high of 5500. Global cues are strong reason for that. Today it has just increased by 0.04 % from its last closing and trading at 4753 level. It has a strong support at 4500 and a critical resistance at 5000 for short term. The RBI policy to not to increase the import tax may help crude to get its position back. Although mcx crude oil is looking week in this scenerio. We suggest to Sell on higher level.
Oil dropped to the lowest price in almost five months in New York after U.S. crude stockpiles increased and Greek talks to form a coalition government collapsed, raising concern the region’s debt crisis will worsen.
On the MCX, oil prices declined by 0.9 percent after touching an intra-day low of Rs.5,003/bbl and hovered at Rs.5058/bbl yesterday. Significant support is seen around 4990 level and break below this could extend weakness towards 4960/4895 territory. On the contrary, expect a pullback towards 5055/5085 levels. Thrust past 5085 could propel prices higher towards 5125/5150 region.
In last few days selling pressure have been increased in crude oil. The market sentiments are showing a sell signal in crude oil. Positionally Immediate support for Crude oil is 4963. Strong resistance is looking in the Crude oil at 5158-5248.
Crude Oil tips, Crude oil price, MCX Crude Tips, Crude Updates, Crude Oil Trading, mcx india, ncdex live
Today all commodities are trading with the red points, all commodities are down today. May be the reason is huge fall in stocks. Today Nifty has falled more than 100 points. Crude oil is also get some effect of it, Now it is trading at 5174 with the loss of 12 points. It is looking consolidate today.
It may touch the level of 5300 in coming days if it cross the level of 5210 in this week, Unless it may trade between 5100-5200 levels.
We Suggest go long in crude with a buy position for long term.
Today Crude Oil closed in a positive phase. MCX crude oil trading in a consolidation phase with a slightly positive base and getting towards 5050/5080. But it is not sure that it will relly to these levels. For sure tips and sure profit please fill the free trial form here>>>
