MCX Live Tips and Commodity Updates Today

MCX Gold Tips

For this week we expect gold prices to find Support at 29970-29930 levels and further below strong support is seen at 29700-29650 levels and below that 29555-29254. Resistance is now seen at 30400-30430 levels and then strong resistance is seen at 30690-30720 levels. Trading consistently above 30730 levels would trigger a sharp rally initially towards 31030 then 31400 and then finally towards the Major resistance at 31800 levels.

MCX Copper Tips

For this week we expect Copper prices to find support at 414-413 levels. Trading consistently below 413 would lead towards the strong support at 408-400 levels. Resistance is now observed in the range of 422.40-423.70 levels. Trading consistently above 424 levels would extend the current up move initially towards 429 then 440 and then finally towards the major resistance at 449 levels. 

MCX Crude Tips

For this week we expect Crude prices to find support at 4665-4645 levels. Trading consistently below 4645 levels would trigger correction initially towards 4616 levels, then 4560, and then finally towards the major support at 4517 levels. Resistance is now observed at 4810-4830 levels. Trading consistently above 4830 levels would trigger a sharp rally initially towards 4911 levels, then 4954 and then finally towards the Major resistance at 5096 levels.

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MCX Base Metal Tips: Copper Updates for Today

All base metals are trading on a positive note today.

MCX Copper Tips

MCX Copper chart suggest that prices have reversed after taking support at 405 levels. RSI is in a buy mode. We expect prices to go up to levels of 414. For today in copper traders should go for buying at lower levels strategy, if copper sustains below the level of 404 we can see the level of 400 today, and above 411 it can touch the level of 415.

We suggest a Buy in Copper around 409 levels with a stop loss placed below 405 levels for targets of 414 levels.

MCX Nickel Tips

For Today chart of Nickel suggest that prices have reversed after taking support at 880 levels. RSI is in a buy mode. We expect prices to go up to levels of 920. For intraday Nickel traders should go for buying at lower levels strategy, if nickel sustains below the level of 873 we can see the level of 863, and above 894 it can touch the level of 906.

We suggest a Buy in MCX Nickel around 890 levels with a stop loss placed below 875 levels for targets of 920 levels

MCX Lead Tips

Technically In MCX Lead, chart suggest that prices have reversed after taking support at 105 levels. MACD is in a buy mode. We expect prices to go up to levels of 108. Intraday traders should go for buying at lower levels strategy, if lead sustains below the level of 105 we can see the level of 103.70, and above 107.40 it can touch the level of 108.10.

We suggest a Buy in Lead around 106 levels with a stop loss placed below 105 levels for targets of 108 levels.

MCX Zink Tips

Technical chart of Zinc suggest that prices are trading near a crucial resistance of 105. RSI is in buy mode. We expect prices to go up to levels of 106.50. Day traders should buy MCX Zink at lower levels, if Zink sustains below the level of 104.10 we can see the level of 103.80, and above 105.85 it can touch the level of 106.20.

We suggest a Buy in MCX Zink above 105 levels with a stop loss placed below 104 levels for targets of 106.50 levels.

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MCX Updates: Gold Silver Tips For Today

MCX Gold Tips

Gold prices in India are expected to trade with a positive bias during this week. Sentiments in the global markets could turn choppy and lead to weakness in the Indian Rupee, thus supporting gold prices in the domestic markets. Consolidation inside 29200-28700 have been progressing for the last few days. However, prevailing chart formation seems positive and prices could possibly break the upside and test the target of 29200 initially followed by 29400 levels. An unexpected drift lower below 28650 would be an early signal of bearish sign.

MCX Silver Tips

The Rupee could weaken during the week on account of weak global and domestic economic fundamentals. A weaker Rupee is expected to support upside in silver prices in India, although prices in the international markets are expected to trade lower. Consolidation resistance of 54800 has been pierced and for the day, we expect prices to move further towards 55400 or even more. At the same time, close below 54000 could negate the view and take prices lower.

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MCX Tips and Updates For Today

MCX Crude Oil Updates

On the domestic bourses, prices gained by 0.4 percent on account of depreciation in Indian Rupee and closed at Rs.5,056/bbl after touching a low of Rs.4,992/bbl in last week. From an intra-day perspective, we expect crude oil prices to trade positively on account of ease in concerns of over Greece exiting the Euro Zone.

MCX Copper Updates

In MCX Copper, prices increased by 0.6 percent on the back of appreciation in Indian Rupee and closed at Rs.423.5/kg on Friday after touching a low of Rs.421/kg in last week. We expect base metal prices on the LME to trade with a positive bias on the back of weakness in the dollar index. Copper closed slightly higher, as prices clawed back from a 4-1/2-month lows, as uncertainty over Europe's economy and the potential exit of Greece from the euro hammered the single currency.

Free Commodity Tips

• MCX Gold (Jun) Sell Below 28900, Targets: 28830-28750, with a Stoploss of 28940.
• MCX Copper (Jun) Buy Above 424, Targets: 426.5-429 with a stoploss of 422.
• MCX Aluminum (May) Buy Above 110, Targets: 111-112 with a stoploss of 109.3
• MCX Crude oil (Jun) Sell Below 5070, Targets: 5045-5090 with a Stoploss of 5090.
• MCX Nickel (May) Buy Above 936, Targets: 950-960 with a stoploss of 934.

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MCX Gold Tips and Silver Trand For Today

MCX Gold Tips

Gold can trade in range of 28,300-29,400 in MCX while COMEX gold can trade in range of USD 1,520-1,630 in near term. MCX Gold June as seen in the weekly chart above has initially moved sharply higher. For this week we expect gold prices to find Support at 28860-28820 levels and further below strong support is seen at 28725-28700 levels.

Trading consistently below 28,700 levels would trigger sharp correction initially towards 28620 then 28525 and then finally towards the major support at 28281 levels. Resistance is now seen at 29160-29190 levels. Trading consistently above 29200 levels would renew the previous rally initially towards 29490 and then finally towards 29730 levels.

MCX Silver Tips

White metal silver can trade in range of 52500-56000. MCX Silver July as seen in the weekly chart above has opened at 54525 levels initially made a high of 55,119 levels and then fell sharply lower, but found good support at 53320 levels.

Trading consistently below 54,200 levels would lead towards the Strong Support at 53,500 levels. Daily closing below 53,500 levels would indicate that a short term top has been posted and thereby would open the door for a new leg down initially towards 52,500 and then finally towards 51,100 levels. Resistance is now observed at 55,290-55,400 levels. Trading consistently above 55,400 levels would renew the uptrend and can lead initially towards 56,100 levels and then finally towards 57,600 levels.

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MCX Commodity Tips and Trend News For Today

Gold futures prices continued to seek support after plunging below $1550 and at present are quoting up by 0.75% at the early Globex. The besieged Euro hovered just above the level seen last since July 2010 took the yellow metal and stocks along for the ride. Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange traded fund, rose to 1,268.15 tonnes by May 23, up by 2.72 tonnes from the previous business day. With expectations of Greece’s exit from the Euro Zone building up, market sentiments remain tuned towards a further bearish scenario. It is only due to Rupee depreciation that we have not seen sharp losses in the domestic markets.

Silver futures prices are quoting well above yesterday’s closing at the Globex with some sort of positivity on re-establishment of two rescue funds namely Euro plus Pact and a European semester. But the summit provided no clear resolution to the wrecked Spanish and Greek condition. Hence, market anxiety still remains for a potential Greek exit and a further weak Euro. On the domestic front, prices declined by 1.1 percent as depreciation in Indian Rupee cushioned further fall in prices and closed at Rs.53,818/kg on Wednesday.

Free Commodity Tips For Today

Commodity	Strategy	Levels	Target 1	Target 2	Stop-Loss
Gold (Jun)	Buy	Above 28860	29050	29051	28820
Silver (Jul)	Sell	Around 54200	53900	53600	54270
Copper (Jun)	Sell	Below 426	423	420	428
Aluminum (May)	Buy	110.8-111	112	--	110.6
Lead (May)	Buy	Around 107.5	108.5	109.5	106.9
Nickel (May)	Buy	936-940	950	--	933
Zinc (May)	Buy	104.5-104.8	105.8	107	104.2
Crude oil (May)	Sell	5130-5140	5090	5050	5155
Natural gas (May)	Buy	Above 155	158	161	152.8

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MCX Copper Tips and Trend For Today

MCX Copper suggest that prices are trading near the crucial support of 425. MACD is in a buy mode. We expect prices to go up to levels of 430.50. Copper dropped to a four-month low in New York on concern that slowing growth in China and the risk of Greece leaving the euro signal weaker demand for the metal. Copper fell on Wednesday in London to a 4-1/2-month low and sank to a fresh 2012 trough in New York, hit hard by a frenzy of riskaverse selling tied to global growth concerns and worries about Greece's possible exit from the euro zone.

Altough in MCX today copper is trading at consolidate to positive mode. MCX Copper is trading at 425.95 today. Technical charts advised that it will trade between 424-432 levels. We advised to make a buy position on lower levels. As per charts for today strong resistance level is 432 and support level is 423.

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MCX Copper Updates: Commodity News and Trend For Today

Copper traded sideways to positive, as reports that China will fast-track infrastructure investments encouraged investors to buy the industrial metal despite a firm dollar and uncertainty about Europe's ability to resolve its debt crisis. Expectations of China acting in order to boost economic growth continued to support base metal prices in yesterday’s trade. Copper, the leader of the base metals pack, swung between gains and losses despite macroeconomic concerns on hopes that the world’s largest copper consumer would re-ignite economic growth in its country, thus reassuring future demand for metals. Copper prices touched an intra-day low of $7,705.75/tonne and at $7,736/tonne in yesterday’s trading session. On the domestic front prices gained by 0.7 percent as depreciation in Indian Rupee helped upside in prices and closed at Rs.429.60/kg after touching an intra-day high of Rs.430.70/kg on Tuesday. Now it is trading at the level of 426.30.

Copper futures for May delivery closed slightly down at $3.487 per pound on the COMEX of the New York Mercantile Exchange. In MCX it holds strong resistance at 430.5. MCX Copper suggest that prices have reversed after taking resistance at 431 levels. RSI is in a sell mode. We expect prices to correct up to levels of 421.

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MCX Gold Silver Tips and Commodity Trend For Today: 22nd May

MCX Gold Tips

The MCX Gold is in perfect uptrend now. Although it was in strong downtrend in last week but volume is unsatisfactory. The open interest is not increasing with trend. The Gold is now trading in overbought level. The Gold is now trading in overbought level. Prices seen trading firmly so far and we expect the buying bias only above 29170 region. Such wining moves could generate fresh rallies towards 29260/300 firstly followed by 29390. Conversely, failed attempts to break 29170 region could push down prices towards 28940/28830 or even lower towards 28750.

MCX Silver Tips

In MCX Silver Overall trend is bearish for medium long term. MCX Silver was in strong downtrend last week but now the trend is supported with good volume The open interest is not increasing with trend. MCX Silver is looking consolidate from here. Initial consolidation is anticipated inside 54800-54100 with good volume. Either side breakout would suggest fresh directional moves. However for the day, prevailing chart formation suggests selling pressure towards 53200/52500 or more.

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MCX Copper Updates and Commodity Tips For Today

Copper the leader of the base metals declined by 4.3 percent on the LME in last week on the back of re-emergence of European debt crisis, rise in risk aversion in global markets along with stronger dollar index. However further downside in prices was restricted on account of decline in LME and Shanghai Inventories by 0.1 percent and 7.3 percent respectively.

Base metals are expected to trade on a positive note today, taking cues from upbeat global market sentiments and optimism over Greece continuing to be a part of the Euro Zone.

Free Commodity Tips For Today

Commodity	Exchange	Strategy	Target 1	Target 2	Stoploss
Gold (Jun)	MCX	Buy Above 29000	29080	29200	28945
Silver (July)	MCX	Buy Above 56650	56650	56900	56440
Copper (Jun)	MCX	Sell Around 424	421	419	425.5
Aluminum (May)	MCX	Buy 110.6-110.8	111.8	112.8	110
Lead (May)	MCX	Buy Above 107.3	108.2	109.1	106.7
Crude Oil (May)	MCX	Sell Around 5055	5025	4990	5076
N. Gas (May)	MCX	Buy Above 151.5	154.5	157	149.4

 

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MCX Gold Silver Tips and Updates For Today: 21st May

MCX Gold Tips

MCX Gold june is looking good for this week's trading. Weekly charts suggest that it can touch the 30000 levels very soon. In its last trading session it had got a gain of 0.20% and closed just below the strong resistance level of 29000. In last week MCX Gold June as seen in the weekly chart above has opened at 28,362 levels and then sharply corrected up-to 27,855 levels, but was not able to breach the support level of 27,600 levels and prices rallied sharply from support level to 28,999 levels. Now it is looking bullish for this week with the support levels of 28550/28200 and a resistance levels of 29150/29500.

MCX Silver Tips

MCX Silver is also recover a little from its past downfall. It covered a gain of 0.19%. MCX Silver July as seen in the weekly chart above has opened at 54,039 levels and then sharply corrected up-to 51,201 levels, but was not able to breach the support level of 51,000 and finally closed around 55,600 levels.

Now it has a criticle support of 53200/52000 and strong resistance of 56000/57200. Technically it is looking bullish for this week. We suggest to make a buy position in mcx silver at lower price.

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MCX Copper Updates and Tips For Today: 17th May

All base metals are expected to trade on a negative note today. Expect to continue the prevailing weak bias initially towards 417/414 or even more. A direct rise above 425 could negate chance of further selling pressure. Copper prices were also pressured by worries about growth in demand from top consumer China, with investors seeing Beijing's weekend move to cut banks' reserves to boost lending as an affirmation that the world's No. 2 economy is slowing further.

MCX Copper is trading in a downworth position have a immidiate support of 414 and a strong resistance of 428-433.

Copper and closed below 1 week low with volume signals down breakout in its last trading session. Currently Copper is in sell position. The Copper is in downtrend For short term but buy only if it get the level of 426 today. The Copper is now trading in highly oversold level.

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MCX Gold Silver Updates and Tips For Today: 16th May '12

MCX Gold

Strength in the US dollar index also exerted further downside pressure on the yellow metal prices. On the MCX, Gold June contract witnessed a fall of around 0.4 percent and touched an intra-day low of Rs. 27992/10 gms on Tuesday. Now, mcx gold technicle chart suggest that prices are trading near the crucial support of 27900. Stochastic is in a sell mode. We expect prices to correct up to levels of 27750 if the prices trades below 27900.

MCX Silver Trend

In LME Silver hit an intra-day low of $27.56/oz and ended its trading session at $27.70/oz on Tuesday. MCX Silver July contract declined by 1.3 percent and touched an intra-day low of Rs. 52820/kg yesterday. MCX Silver Technicle charts suggest suggest that prices have breached the crucial support of 53500. RSI is in a sell mode. We expect prices to correct up to levels of 51800.

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MCX Commodity Market DATA For Today: 15th May

Gold erased all its gains for the year so far, as concern that Europe’s debt crisis is deepening strengthened the dollar and reduced gold’s safe-haven appeal as an alternative asset. Copper crumbled to a 4-month low, supported by selling in all commodities on fears of a slowdown in global economic growth amid the political impasse in Greece and signs of a struggling Chinese economy. Crude oil declined to a 5-month low, as Greece's inability to form a new government raised fears it might exit the euro zone while worries about China's economic slowdown weighed on the sentiments, sparking a broad sell-off in commodities.

Commodity Highlights

• Gold below 4 – month low as dollar rises, stocks slide.
• Brent crude drops towards $ 110 as greece cloude demand.
• Copper hits near 1-month low on china woes.
• Soyabean futures hit 4pc lower circuit as funds liquidate long positions.

Here are some important DATA for Commodities-

 

Time	Currency	Economic Data	Forecast	Previous
18:00:00	USD	Core CPI m/m	0.2%	0.2%
18:00:00	USD	Core Retail Sales m/m	0.3%	0.8%
18:00:00	USD	Retail Sales m/m	0.2%	0.8%
18:00:00	USD	CPI m/m	0.1%	0.3%
18:00:00	USD	Empire State Manufacturing Index	9.3	6.6
18:30:00	USD	TIC Long-Term Purchases	19.4B	10.1B
19:00:00	USD	FOMC Member Duke Speaks
19:30:00	USD	Business Inventories m/m	0.5%	0.6%
19:30:00	USD	NAHB Housing Market Index	26	25

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MCX Copper and Silver Updates For Today: 15th May

MCX Copper Updates

MCX Copper is looking bearish for medium and long term trading sessions. Currently copper is swinging between 420-430 levels. Now it is showing some down move and trend is strong momentum is also showing strength and supported with good volume The open interest is not increasing with trend. The market sentiments are showing a sell signal for short term trading. In its last trading session it closed at 3 week low with a down trend. For Today we suggest to buy mcx copper above 429.6 with a stop at 422.4 and if it got below 420.6 go for sell.

MCX Silver Trend

MCX Silver has got more down trend then any other commodity. Customary selling bias may not be succeed without concrete trades below 53100 region and such failed attempts could amplify the buyers to take a toll towards 53900/54450 or even higher 54900. Break below 53000 could head out major selling pressure towards 52400/51000. We advise to make a fresh buy in mcx silver above 54293 with a stop at 53253, else below 52979 go for sell.

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MCX Commodity Tips: Gold Silver Trend Today: 14th May

MCX Gold Tips

MCX June gold prices opened the week at Rs 29,167/10 grams and fell sharply but found good support at Rs 28,281/10 grams and finally closed at Rs 28,365/10 grams (May 12, Saturday) as compared with previous week’s close of Rs 29,109/10 grams. Currently Gold is in strong downtrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend . In last few days volume based selling happened in the Gold. We expect gold to trade lower on the back of weak market sentiments due to deepening worries over Euro Zone debt crisis coupled with a stronger dollar.

Trading Call: Sell MCX June Gold between 28650-28700, SL-28910, Target -28000/27700

MCX Silver Tips

MCX July Silver prices opened the week at Rs 56,511/kg and fell sharply but found good support at Rs 53,561/kg and finally closed at Rs 54,130/kg (May 12, Saturday) with a huge loss of Rs 2446/kg as compared with previous week’s close of Rs 56,576/Kg. Currently Silver is in strong downtrend and the trend is supported with good volume The open interest is not increasing with trend. We expect silver to trade lower on the back of weak market sentiments due to deepening worries over Euro Zone debt crisis coupled with a stronger dollar.

Trading Call: Sell MCX Silver July between 55200-55300, SL-56000, Target -52700/52000.

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MCX Live Tips For Gold Silver and Crude: 11th May

Impact of the sharp fall in gold and silver in international market has also convayed in domestic market also. MCX gold is trading slightly lower at Rs 28400. Silver fell by 0.5 per cent and the price has come close to Rs 54200. However in LME, gold and silver continues falling. Comaks about 0.50 per cent with the gold is down by 0.50% in COMEX is trading at $1587, while silver was down 1%. Gold in the domestic market on Thursday with nearly 1% to Rs 28433, while silver dropped 1.10%.

In Current market scnerio we suggest to make a short position in gold and silver.

Here are intraday trading suggestion for Gold, Silver and Crude-

MCX Silver (July futures): Sell - 53800, stoploss of Rs - 54320 and the target - 52900

MCX gold (June futures): Sell - 28300, stoploss of Rs - 28430 and the target - 28050

MCX Crude Oil (May futures): Sell - 5160, stoploss of Rs - 5220 and the target - 5000

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MCX Commodity Data For Today: 11th May

Today morning Nickel and Aluminum is trading slightly positive by 0.13 to 0.3 percent while other metals have retreated at LME electronic platform. The Asian equities are trading mixed while the equities might pair in slightly after better banking and economic outlook. However, the Chinese inflation release early morning came out inline with expectation and may indicate some easing in near term restricting downside of metals pack. Brazilian miner Vale, the second largest producer of Nickel declared force majeure at its New Caledonia Goro HPAL Nickel operation due to acid leakage and may support price gain of the metal for the day. From the economic data front, Chinese Industrial production may increase slightly after in-line PMI release while the retail sales may decline slightly after lower imports and may restrict fall of metals during the Asian session.

Commodity Highlights -

• Gold struggles as investors fret over greek chaos, spanish banks.
• Oil eases further on weak chinese data.
• Copper off 3- week lows ; euro zone woes cap gains.
• Domestic oil and oilseed trade up on short covering.

 

Date	Time	Currency	Economic Data	Forecast	Previous
FRI 11TH MAY 2012	6:00pm	USD	PPI m/m	0.0%	0.0%
	6:00pm	USD	Core PPI m/m	0.2%	0.3%
	7:25pm	USD	Prelim UoM Consumer Sentiment	76.4	76.4
	7:25pm	USD	Prelim UoM Inflation Expectations		3.2%

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MCX Copper and Crude Updates For Today: Tips and Trand

MCX Copper Updates

Copper declined by 0.3 percent on the LME on the back of reemergence in Europe’s debt crisis coupled with a stronger dollar index. However, further downside in prices was restricted on the back of decline in LME inventories of copper which decreased by 3.3 percent to 220,925 tonnes yesterday.

On the MCX, prices gained by 0.5 percent on the back of sharp depreciation in Indian Rupee and closed at Rs.438.7/kg on Wednesday. Copper prices have failed to cross 440 on higher end indicating lack of buying interest, one can witness selling pressure to the tune of 430. Oscillators indicating flat to down move.

MCX Curde Updates

Nymex crude oil prices declined by 0.2 percent on Wednesday on the back of more than expected rise in US crude oil inventories coupled with re-emergence of the European debt crisis. Additionally, a stronger dollar index exerted further downside pressure on oil prices.

On the MCX, prices gained by 0.7 percent on account of sharp depreciation in the Indian Rupee and closed at Rs.5,213/bbl after touching an intra-day high of Rs 5224/bbl. Crude prices as expected test the resistance zone at 5225-5235 on higher end and witnessed selling pressure. We expect selling pressure to continue, one can sell on rise till 5185-5195.

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MCX Commodity Tips- Gold and Silver Updates For Today

MCX Gold

MCX Gold is looking bullish in long, medium and short term. In its last trading it has closed its trading in a bull phase. Currently Gold is in uptrend and the trend is supported with good volume The open interest is not increasing with trend. The Gold is now trading in overbought level. The oscillator is on SELL signal and Gold is coming down from overbought level For short term Gold is in SELL position. It has a critical support at 28243-28098 and a strong resistance at 28962-29120.

MCX Silver

MCX Silver July contract is trading in a bearish mode for medium and long term. Currently Silver is in strong downtrend and the trend is supported with good volume The open interest is not increasing with trend. But it a good time to buy silver on an intraday basis to gain huge profit. The oscillator is showing BUY signal For short term Silver is in HOLD SHORT position. It has a strong resistance at 55494-55760 and a immediate support at 54055.

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