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 Copper Tips and Commodity Updates

Commodity News Highlights 

• Gold gains 1pc as euro, commodities up ahead of ecb.
• Brent crude oil returns to 100$ ahead of ecb.
• Copper rises as dollar falls , ecb meeting in focus.
• Domestic oil and oilseed trade bullish on global cues.

MCX Copper Tips
Today morning base metals are trading mixed with Copper and Nickel slightly down at LME electronic platform. Copper prices traded positively while other metals too were up, on reports that rescue of Spain's troubled banks by the EU. Copper futures for July delivery closed up by 2.7% at $3.3779 per pound on the COMEX of the New York Mercantile Exchange.

Copper is currently trading at 411 with a strong down trend. It has a strong support of 406 if copper cross this level then it can further go to 402. On the upside it has a criticle resistance at 415 and above that 418. We suggest to Sell MCX Copper at high levels. 

MCX Commodity Data
 

Time	Currency	Economic Data	Forecast	Previous
06:00 PM	USD	Unemployment Claims	381K	383K
07:30 PM	USD	Fed Chairman Bernanke Testifies
08:00 PM	USD	Natural Gas Storage		71B
09:40 PM	USD	FOMC Member Lockhart Speaks

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MCX Live: Gold Silver Tips For Today

MCX Gold Tips

The Gold is in perfect uptrend. Currently Gold is in strong uptrend and the trend is supported with good volume. The open interest is not increasing with trend. Prices approaching the psychological level of 30000-30030 region, which is likely to act as a hurdle for bullish expectation and such abortive move could find support at 29820-29710 or even lower towards 29630. Any how solid moves above 30050 region could be an early sign of major rally towards 30170/350 or even higher.

Intraday Trend- We suggest to buy MCX Gold above 30150 with a stop loss at 29826, below 29702 go for sell and put stop at 30195.

MCX Silver Tips

Overall trend of the Silver is bearish for medium-long term. For Intraday trading silver is looking consolidate today. Currently Silver is moving sideways The market sentiments are showing SELL signal in silver. If pullbacks do not extend much beyond 54800-55000 region, expect the over weak sentiments to continue towards 53700. However, a direct dip below 53350 would be required to trigger strong sell off again. Rallies above 55000 could target 55700/56600.

Intraday Trend- We advised for intraday better to buy above 56080 and Sell if below 52410.

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MCX Gold and Silver Updates For Today

MCX Gold Tips

Prices looking firm and probably to continue the established buying sentiments, which may at first test the upside region of 29990/30190 or even higher towards 30370. On the contrary, break below 29630 region could give early indication of intraday weakness towards 29520/370. The yellow metal touched an intraday low of $1614/oz and hovered around $1623/oz till. On the MCX, prices lost by 0.6 percent and were trading around Rs. 29908, after touching an intraday high of Rs. 29979 today. Currently Gold is in HOLD LONG position In short term Gold is in strong up trend so hold with stop at 29382 The Gold is now trading in highly overbought level.

For Intraday Buy is advised above 29913 with a stop at 29516 and below 29423 go for sell with stop at 29820.

MCX Silver Tips

A flat trading range is expected today. Early attempts to rise would be capped near 55300 but may not force steep falls as long as 53700 hold the downside. A direct rise above 55300 could push prices higher till 56000. The white metal touched an intra-day low of $28.23/oz and was trading around $28.55/oz today. On the domestic front, prices traded on a flat note today and hovered around Rs. 53858/kg. Currently Silver is in HOLD SHORT position Silver is moving sideways so short term investor better to buy only above 54682 or hold with stop at 52813. The oscillator is showing BUY signal.

For Intraday Buy is advised above 54989 with a stop at 53211 else below 52692 go for sell.

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MCX Live Tips and Trend News For Gold and Silver

MCX Gold Tips Today

MCX Gold August as seen in the weekly chart above has initially moved sharply lower, but found good support at 29020 levels. Rumbling intraday weakness could be validated only by firm trades below 28930 region. Otherwise, this same level could arrest the fall for prices to push higher towards 29130/200 or more to 29300.Weakness could be seen only below 28930 region and such moves could trigger major selling pressure.

For this week we expect gold prices to find Support at 29,680 – 28,620 levels and further below strong support is seen at 29,200-29,150 levels. Trading consistently below 29,150 levels would trigger sharp correction initially towards 28570 and then finally towards the major support at 28278 levels.

MCX Silver Tips Today

Ensuing selling bias probable to continue with an immediate target of 52800/52300. But unexpected rise above 53800 -54000 region may clear our intraday bearishness state and could test the upside region of 54550/54900 or even higher.

For this week we expect Silver prices to find support at 54100-54000 levels. Trading consistently below 54,000 levels would lead towards the Strong Support at 53300-53200 levels. Multiple closing below 53200 levels would indicate that a short term top has been posted and thereby would open the door for a new leg down initially towards 52300 and then finally towards 51300 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 Gold Silver Tips For Today

MCX Gold Tips

MCX Gold is trading in consolidate to nagetive trend. Now it is trading at 28873. We consider that mcx gold will touch the intraday level of 28650. Prices seen trading with a negative outlook with immediate target of 28850/700 or even lower by holding the upside cap of 29180 region. Even in this bearish outlook, unexpected move above 29180 region could lift up prices towards 29270 or even more towards 29390.

Trading Call: Sell MCX Gold June at Rs 28820 with stop loss Rs 29100 and target 28650.

MCX Silver Tips

On the other bullion metal in mcx silver it is also trading in consolidate to negative trend. Now it is on 54280. Technical charts suggest that it will start with a bearish trend and may get the lower level of 52600. Likely to be choppy inside the range of 53700-54400 levels with mild positive bias. Either side breakout would suggest fresh directional moves later.

Trading Call: Sell MCX Silver July at Rs 54000-54500 with stop loss Rs 55500 and target Rs 52500-52000.

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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 Tips: Gold and Silver Trend For Today

MCX Gold Tips

MCX Gold has traded in consolidate way in last trading session. It strat well in morning session but at the end of the day it change its way to red. Witnessing selling bias likely to continue only below 28850 region and successful moves may find support at 28770/28650 initially. Anyhow, if unable to break below 28850 region could lure fresh buying sentiments towards 29100/29180 followed by 29300. 

MCX Silver Tips

MCX silver was down by more then 1% on wednesday and closed at 53821. Moving more towards to the selling, even today also looking consolidate. Early attempts to break the recent swing support of 53700 has failed and prices hovering just above the same. Looking ahead, present moves are likely to consolidate again inside 53700-54400 levels but any of the side breakout would call for fresh directional moves.

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Commodity News- MCX Gold Tips and Silver Trend For Today

MCX Gold Tips

Gold finished its last trading session at 29086 up by 0.18%. As we have suggested that mcx gold will recover from its previous down trend. Technically the mcx gold is looking to recover more, for today it can go to 29130 region firstly for a swing lower towards at 28930/850 or even lower towards 28700. But weekly break above 28190 region could give an early indication of fresh buying towards 29300/390 or even higher towards 29470.

MCX silver Tips

Silver closed at 54460 up by 0.60%. Although it has crossed the 54000 level yesterday but technically it is looking consolidate for today. 53700-53900 regions seems as a stiff downside support, which if cleared will be a signal of renewed bearishness towards 53200/52500 or more later. At the same time unexpected rise above 54700 will be an early bullish signal but a rise above 55000, prices will enter into the bull camp again.

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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 Gold Silver Trend| Silver Tips For Today

MCX Bullion Updates

• Gold off 4-1/2 month low on increased physical buying.
• Brent hits 4 month low , us crude future up on seaway.
• Copper rebounds from four month lows greek worries caps gains.
• Domestic oil and oilseed up on short covering.

MCX Silver Tips

TREND	Consolidate
RESISTANCE 2	55000
RESISTANCE 1	54200
SUPPORT 1	52000
SUPPORT 2	51200
STRATEGY	Sell on higher Levels

MCX Silver can trade in range of 52500-55000 in near term. Some Federal Reserve officials were not confident enough about signs of an upturn in growth to alter their guidance that rates were likely to stay exceptionally low until late 2014. Fed officials cited uncertainty surrounding the forecasts of the economy in making no changes to the guidance. We suggest it may not be productive until it cross above 54100 region convincingly, else hold the same for a push down towards 52700 followed by 51800 region. Silver is in SELL position. Positionally Immediate support for Silver is 50996. Resistance for the Silver is 54937-56750.

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MCX Bullion Updates, Gold and Silver Trend For Today: 18th May

Gold Extends Gains On Bargain Buying And Early Gains In Euro:  Gold futures extended the early gains tracking the bounce back in the global gold prices on bargain buying and strong euro. The Federal Reserve signal further monetary easing remains an option to protect the U.S. economy from the danger that lawmakers will fail to reach agreement on the budget or Europe's debt woes worsen.

MCX Gold

Morning gains ensure that last day’s plunge has not sustained. MCX Gold has gain by 2.09% and closed at 28547 in its last trading session. The MCX Gold is now trading in overbought level. The oscillator is showing SELL signal For short term Gold is in SELL position and closed above 1 week high with volume signals up breakout. Positionally Support for the Gold is 28272-27850. Resistance for the Gold is 28978-29220.

MCX Silver

In silver's last trading session it gain by 3.13% and closed at 53174. Firm moves seen in the morning session may not be productive until it cross above 53000 region convincingly, else hold the same for a push down towards 52300/52000 followed by 51000 region. Silver is in SELL position. Positionally Immediate support for Silver is 50996. Resistance for the Silver is 54937-56750.

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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 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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