MCX Copper Tips and Crude Updates Today

MCX Copper Tips

Today morning base metals are trading slightly positive by 0.09 to 0.2 percent at LME electronic platform. At MCX, base metals may likely open on a positive note for the day. Copper prices are expected to witness a range bound move as from 414 to 406, one can look for buying opportunity around 409 with a stop loss below 405. Fresh buying could witness above 415.

MCX Crude Oil Tips

During early Asian session, oil prices are seen hovering near $83/bbl with fall of more than 0.40 percent from yesterday’s closing. Investors must be cautious ahead of inventory report releasing tonight, which is expected to give a positive indication for prices. We may suggest remaining on selling side for the day. Crude prices are witnessing a range bound move. one can buy around 4620 with a stop loss of 4580 targeting 4685–4700. Oscillators suggesting a flat to positive move ahead.

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MCX Tips : Crude and Copper Updates Today

Copper Updates

Today morning base metals forwards are trading up by 0.4 to 2.4 percent at LME electronic platform with Copper as the top gainer. Industrial metals are trading higher on International bourses today. We expect prices to trade higher for the day as Europe agreed on a bailout package for Spain's distressed banks and data showing strong imports by top consumer China.

On the MCX, Copper June contract prices declined around 1 percent on the back of appreciation in the Indian Rupee and closed at 404.20 on Friday after touching a low of 397 during the week. Now it is trading at 411 with almost 1.5% up. It has a strong resistance at 415 and a criticle support at 405.

Crude Updates

Crude oil is trading higher on NYMEX today. We expect prices to trade higher for the day as after euro zone finance ministers agreed to a rescue package of up to 100 billion euros ($125 billion) for Spain's banks and strong import numbers from china. Crude oil futures prices are trading above $86/bbl in electronic platform with gain of more than 2 percent. Oil prices have gained on speculation of higher oil demand from European countries as Spain have requested for bailout to shore up its banks. Spain finance minister have told that it will seek $125 billion. 

On the domestic bourses, prices declined by 0.1 percent on account of appreciation in the Indian Rupee and closed at 4625 on Friday after touching a low of 4522 during the last week. Now it is on 4736 up by 1.30%. It has a strong resistance at 4790 and a criticle support at 4660.

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Copper Updates and MCX Crude Tips For Today

MCX Copper Updates

Copper was the worst performing commodity in the base metals pack, yesterday as it declined around 2 percent on the LME. Turning negative for the year and coming within $20 of its 2012 low on fears of a widening European debt crisis and fading hopes for a Chinese stimulus. In today’s session we expect base metals prices to trade lower on account of slowdown in US and European economies. Additionally, a stronger dollar will also lead to downside in base metals prices on the LME.

Technical chart of MCX Copper suggest that prices have breached the crucial support of 422. RSI is in a sell mode. We expect prices to correct up to levels of 418.

MCX Crude Oil Tips

Oil entered a bear market in New York as it headed for the biggest monthly drop in more than three years on speculation Europe’s worsening debt crisis and a slowing U.S. economy will reduce fuel demand. Oil for July delivery traded at $87.70 a barrel, down 12 cents. WTI Crude Oil is currently trading at $87.51 per barrel. MCX Crude Oil May is currently trading at Rs. 4959, it is trading down by Rs. 3 for the day.

From the intra-day perspective we expect crude oil prices to trade with a negative bias on account of expectations of rise in US crude oil inventories, slowdown in European and US economy along with a stronger dollar index.

Technical chart of Crude Oil suggest that prices have broken the crucial support of 5000. RSI is in a sell mode. We expect prices to correct up to levels of 4900.

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MCX Copper Tips and Crude Updates For Today

MCX Copper Updates

Copper prices touched an intra-day high of $7759/tonne and hovered at $7699/tonne till 4:30pm IST today. On the MCX, prices increased by 0.6 percent as depreciation in the Indian Rupee further supported the prices and were trading at Rs.428.80/kg today. Copper prices declined in the late evening session, surrendering earlier gains, after a downgrade to Spain's sovereign credit rating rekindled fears about Europe's deepening debt crisis.

In MCX, technical chart of MCX Copper suggest that prices have reversed after taking resistance at 430 levels. RSI is in a sell mode. We expect prices to correct up to levels of 422. We suggest to Sell MCX Copper June below 427 with a stop loss placed above 430 for targets of 422.

MCX Crude Oil Tips

Oil prices touched an intra-day high of $91.99/bbl and were trading around $91.13/bbl today on NYMEX. On the domestic bourses, depreciation in Indian Rupee helped upside in crude oil prices and hovered around Rs5102./bbl.

Technical chart of Crude Oil suggest that prices have reversed after taking resistance at 5130 levels. RSI is in sell mode. We expect prices to correct up to levels of 5040. We suggest to Sell around 5095 with a stop loss placed above 5130 for targets of 5040.

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Copper Updates and Crude Oil Tips For Today

MCX Copper Tips

Copper rose for the third straight session on LME, as opinion polls showed support for Greek political parties backing a bailout plan, easing concern about the euro-region debt crisis that threatens to crimp demand. Copper futures for July delivery closed marginally higher at $3.4685 per pound on the COMEX of the New York Mercantile Exchange. Technical chart of Copper suggest that prices have reversed after taking support at 425. RSI is in buy mode. We expect prices to go up to levels of 431.

We suggest to Buy MCX Copper June around 427 levels with a stop loss placed below 424 levels for targets of 431 levels.

MCX Crude Oil Tips

Oil rose for a third day in New York as speculation that U.S. economic growth will boost fuel demand in the world’s biggest crude consumer countered concern Europe’s debt crisis will worsen. Crude for July delivery climbed as much as $1.13 to $91.99 a barrel. WTI Crude Oil is currently trading at $91.20 per barrel. MCX Crude Oil May is currently trading at Rs. 5084, it is trading up by Rs. 13 for the day.

Technical chart of Crude Oil suggest that prices have reversed after taking support at 5065. RSI is in buy mode. We expect prices to go up to levels of 5150.

We Suggest to Buy MCX Crude June above 5100, Stop loss 5070, Target 5130-5140.

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MCX Copper Updates, Commodity Tips For Today: 9th May

London copper rose on Tuesday as the London Metal Exchange resumed trading after a one-day holiday, with sentiment improving on hopes Spain would use public funds to bolster its struggling banks. 

In MCX Copper as long as 434/433 regions holds the downside support expect a pull back towards 440-442 levels. Break below 432 would call for a dip towards 429/427 areas. However, major bullish run could open on consistent trades above 444 targeting 449/452.

Currently Copper is in HOLD SHORT position The Copper is in downtrend For short term buy only if close above 442 The Copper is now trading is approaching oversold level. The Copper is now trading is approaching oversold level. The oscillator is showing BUY signal.

Intraday Trend- Buy is advised above 440.8 with a stop at 433.5, Below 431.3 go for sell.

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MCX Copper Updates (Tips and Trend) For Today: 8th May

Base metals counter can trade sideways with negative bias. Copper may trade in range of 440-446 while Lead may trade in range of 111-113 and zinc in range of 106-108 in near term. London copper rose on Tuesday as the London Metal Exchange resumed trading after a one-day holiday, with sentiment improving on hopes Spain would use public funds to bolster its struggling banks.

MCX Copper CMP is 435. The Copper is in long- medium- short-medium- short- term bull phase. Currently Copper is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend. Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term Copper is in HOLD LONG position. Positionally Support for the Copper is 429-425. Resistance for the Copper is 445.

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MCX Crude Updates (Tips and Trend) For Today: 4th May

Crude Oil traded near a two-week low in New York and is poised for a weekly decline as worse-than-forecast U.S. economic data and Europe’s outlook stoked speculation that demand for fuel may drop. MCX Crude Oil May is currently trading at Rs. 5526, it is trading up by Rs. 3 for the day. The Crudeoil is in perfect uptrend .Currently Crudeoil is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend. Cautious point is buying at higer levels seems decreasing. The Crudeoil is now trading in overbought level. Long Term trader can hold crude oil for long term.

MCX Crude has a strong resistance at 5620 along with the crucial support at 5470. Currently Crudeoil is in HOLD LONG position Crudeoil is moving sideways so short term investor better to buy only above 5629.0 with stop at 5491.0 The Crudeoil is now trading is approaching overbought level.

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MCX Copper Updates, Copper Tips For Today: 4th May

Copper, the leader of the base metals complex, declined by 1.1 percent on the LME yesterday on account of a stronger dollar index and weak economic data from US and Euro Zone which indicated a slowdown in the global economy. However, sharp downside in prices was restricted on the back of fall in copper LME inventories which dropped by 1.6 percent to 235,200 tonnes on Thursday.

In MCX the Copper is in perfect uptrend. Currently Copper is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend. Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term The current position is BUY. Positionally Support for the Copper is 440-435. Immediate resistance for Copper is 452-455.

We suggest to buy MCX Copper Jun above 446.50, Stop loss 442, Target 449.50-452.50

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MCX Copper Tips, Copper Updates For Today: 3rd May '12

Copper and other metals declined, hit by fears of a global economic slowdown on contracting EU and Chinese manufacturing activity and weak US private-sector jobs data. In international market last trading session was a bad dream for most of commodities. The premium of LME cash copper over 3-months material fell to $65, after shooting up to $149 per ton on Monday, the biggest since early August 2008. The drop indicates less tightness in immediate supply. So here is a huge posibilities that those commodities which are affected in internation market will not be safe in local markets also.

In MCX Copper it was trading at its best. In its last trading session it has got 445 level which was a new all time high. Although mcx copper has a strong resistance at 451 and a strong support at 437. In today's trading session we suggest to sell MCX Copper at higher levels.

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MCX Copper Updates (Tips and Trend) For Today: 1st May '12

Continuing the bullish trend Copper extended the rally last week and made the high of Rs. 447. Nearterm outlook remains positive as long as the prices hold the support of 436 levels and on higher side target for this upward move comes around 452. A strong close on weekly basis will further strengthen the movement in copper in coming days.

MCX Copper Trend for 1st May '12
 

Copper is trading at 446 level. The Copper is in perfect up-trend . Currently Copper is in strong up-trend with good momentum and high volume. The open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The oscillator is showing BUY signal For short term The current position is BUY. Positionally Support for the Copper is 436-432-428. Immediate resistance for Copper is 450-454-458.

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Copper Updates, MCX Copper Tips For Today: 30th April '12

Continuing the bullish trend Copper extended the rally last week and made the high of Rs. 447. Nearterm outlook remains positive as long as the prices hold the support of 430 levels and on higher side target for this uoward move comes around 452. A strong close on weekly basis will further strengthen the movement in copper in coming days. RSI-14 period and long-term momentum indicator MACD both are placed in positive territory by supporting the bullish view.

MCX Copper suggest that prices have breached the crucial resistance of 443. RSI is in a buy mode and prices are trading above short term averages. We recommend a buy around 445 levels with a stop loss placed below 440 levels for a target of 455 levels.

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