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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.
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.
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.
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.
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.
Copper Updates
The Copper is in long- medium term bull phase. Currently Copper is moving sideways that says that mcx copper may trade in range of 435-443. The Copper is now trading in overbought level. Means there is a good opportinuty to sell copper in current market and make some profit. The market sentiments is showing SELL signal. In last 1 month volatality is very less Buy the Copper above 452 or buy with strict stop at 421. One can make short position in mcx Copper. Positionally Support for the Copper is 430-426. Strong resistance for the Copper is 442-445.
MCX Silver Trend
Overall trend for mcx silver is down for long and medium term. Currently mcx silver is trading in a strong down trend. Our research team suggest that it is a good time to enter in this volatile market with a fresh buying position. Current sentiments are showing a buying signal for MCX Silver. Although it may get more bear trend if it cross the support levels of 54055 and 53600 else it will be a bull trend if it touch the resistance level of 55560-55900.
MCX Silver Tips
Silver is expected to trade with a negative bias this week on the back of weak sentiments in the global markets and dollar strength. Silver will also take cues from fall in gold prices coupled with downside in base metals complex. The daily price suggest that prices have reversed after taking resistance at 57600 levels. RSI is in a sell mode and prices are trading below short term averages. We recommend a sell around 55350 levels with a stop loss placed above 56600 levels for a target of 54100 levels.
Copper Updates
Current moves are expected to continue towards the moving average support of 432-431 initially. At the same time Inability to clear below 431 may call for a bounce back and could target 444 later. We expect copper to come under pressure during the week taking cues from rising worries over global economic growth which has created demand concerns for the industrial metals. Additionally, deepening tensions with respect to Euro Zone debt crisis and a stronger dollar will also act as a negative factor for red metal prices.
MCX Silver Updates
Comex Silver is currently trading at $30.47 whereas MCX Silver July is currently trading at Rs. 56667, it is down by Rs. 79. Spot silver prices came under pressure on Wednesday and declined around 0.8 percent, on the back of fall in gold prices. On the other side MCX Silver suggest that prices have reversed after taking resistance at 56800 levels. RSI is in a sell mode. We expect prices to correct up to levels of 54100. Although it has a strong resistance at 57546 and a crucial support at 54055.
MCX Copper Updates
Three-month copper on the London Metal Exchange dipped $7.75 to $8,297.25 a metric ton (1.1023 tons) by 22:30 EDT (0130 GMT), after falling 1.6 percent on Wednesday- its biggest single-day decline since April 23. In MCX Copper is trading in consolidate frame between 440-448 levels, although mcx copper has a strong resistance at 449 and a crucial support level at 439. MCX Copper suggest that prices have breached the crucial support of 447. RSI is in a sell mode. We expect prices to correct up to levels of 439.
MCX Silver is trading in a consolidate pattern today, Today it started with 55325 level. It is trading at 55396 level. On technical charts mcx silver is looking down in day trading terms. It has a strong resistance at 57000 and a strong support at 54300. There are more posibilities that mcx silver will met its support levels today. So we advised you to sell mcx silver july contract around 55500 with a stoploss of 56200 to meet the target of 54000 in intraday terms.
MCX Gold is in a good position. Yesterday it cloesd it trading with a bull trend. Today seems that it may trade in a consolidate trend. It may get its higher position if it will get its first resistance at 29500 else it could get its down trend if it touch its support level at 28900. We suggest to sell MCX Gold jun at higher levels.
Silver ready shot up by Rs 400 to Rs 56,900 per kg on rising demand from jewellery and coins makers. Silver weekly - based delivery rose by Rs 90 to Rs 55,965 per kg. Silver coins continued to be asked at previous level of Rs 65,000 for buying and Rs 66,000 for selling of 100 pieces.
courtesy: Financial Express
Trend updated for 1st may '12. CMP-55303, it was fell by more then 1% in its last trading session. Overall trend of the Silver is bearish for medium-long term, although it has a good momentum and good trading volume in it. Currently Silver is in strong downtrend. The open interest is not increasing with trend. The oscillator is showing BUY signal For short term Silver is in HOLD SHORT position. Positionally Immediate support for Silver is 54208. Resistance for the Silver is 56207-56393-56463.
Short term and Intraday Level of SILVER
Currently silver is in area of long term. One can go long in MCX Silver. So we advised to long term traders to go long with Currently Silver market conditions. Silver is moving sideways so short term investor better to buy only above 56196 with stop at 54426.
The oscillator is showing BUY signal Intraday Trend-
Buy is advised above 56072 with a stop at 55215, Below 55070 go for sell.
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MCX Silver May contract slipped almost 1 percent and touched a low of Rs 54426/kg. However, further decline in prices on the domestic bourses was cushioned on account of a weaker Rupee. MCX Silver May is trading 55872 with a consolidate trading manner. It has a support level at 55600 and a resistance level at 55964.
We expect silver to trade higher today on account of weakness in the US dollar index coupled with upbeat sentiments in the global markets. However, appreciation in the Indian Rupee may hold gains on the MCX.
MCX Silver suggest that prices have reversed after taking support at 56000 levels. RSI has given a positive crossover and prices are trading above short term averages. We recommend a buy above 55700 levels with a stop loss placed below 55620 levels for a target of 55900-56100 levels.
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Due to lack of clear signals from the international market, gold and silver is being witnessed in the weak business. Light falling on MCX gold is trading down to Rs 28076. Silver on MCX has recovered slightly and was trading below Rs 56795.
Spot gold has fallen below the 200-day simple moving average again and formed a death cross, a technical sell sign, for the second time in less than four months.
This could be a more reliable sell signal than the death cross that appeared in mid December and point to a bearish 2013 for the gold market because a repeat death cross can indicate that the market is ready for a sharp correction.
Taking cues from rise in gold prices coupled with upside in base metals pack, spot silver rose around 0.6 percent till 4.30 pm IST today. Additionally, weakness in the US dollar index also acted as a supportive factor for the white metal prices.
