MCX Gold Silver Updates (Tips and Trend) For Today: 9th May

MCX Gold Tips

Gold is technically consolidating on charts. Last week gold was trading in a range for most part of the week. In the coming week 28600 will act as a major support in gold and 29600 will act as a major resistance. For the next week traders can use sell on higher level strategy if gold sustains below 29100 than below 28950 it can test the level of 28810 to 28670.

MCX Silver Tips

Silver is technically weak on charts. Last week silver was trading on lower side for most part of the week. For the upcoming week 54400 and 52500 are the crucial supports and 58500 and 60500 are crucial resistance in MCX Silver. For the next week traders can use sell on higher level strategy if silver sustains below the level of 56150 then below 55650 silver can test the level of 55200/ 54600.

courtesy: www.steelguru.com

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MCX Commodity Updates: Gold, Silver Copper Tips For Today: 12th April 12

MCX Gold Tips

MCX Gold edged lower on profit-booking, taking a pause after four days of gains on concerns about global growth and revived worries about the euro-zone debt crisis. MCX Gold suggest that prices have reversed after taking resistance at 28660 levels. RSI is in a sell mode. We expect prices to correct up to levels of 28400.

Trading Call:  

Sell MCX Gold below 28600 with a stoploss of above 28700 for target of 28400.

MCX Silver Tips

MCX Silver suggest that prices have reversed after taking resistance at 56500 levels. Stochastic is in a sell mode. We expect prices to correct up to levels of 55000. MCX Silver prices are expected to trade within a broad range from 56600 to 55300,

Trading Call: 

Sell MCX Silver below 56000 with a stoploss of above 56500 for target of 55000.

MCX Crude Tips

MCX Crude prices are expected to test 5350-5370 on higher end, one can buy on dips around 5280. MCX Crude Oil suggest that prices have reversed after taking support at 5235 levels. MACD is in a buy mode. We expect prices to go up to levels of 5350.

Trading Call: 

Buy MCX Crude above 5280 with a stoploss of below 5235 levels for target of 5350.

MCX Copper Tips

MCX Copper fell to its lowest levels since mid-January, as signs of a worsening debt crisis in Europe and slowing growth in China fueled concern that demand for the metal will stall. MCX Copper suggest that prices are trading near a crucial support of 416. Stochastic is in a buy mode. We expect prices to go up to levels of 421 if the prices trades above 417.

Trading Call: 

Buy MCX Copper above 417 with a stoploss of below 414 level for targets of 421.

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