For bullion commodity again Friday proves as Black day. Gold dropped 150 point and silver dropped 1200 point on intraday basis due to European countries again falling in crises zone. ECB seen favoring Bond Buying rather than offer banks another round of unlimited 3 Year loans as the debt crisis deepens.
Gold face resistance of 28800 in MCx commodity market and make u-turn. It expected to find support around level of 28450-28400. If Gold broke one may sell for 27900
Gold Resistance Level – 28650 / 28725/28880
Gold Support Level– 28530/ 28420/28170
Silver prices are expected to trade within a broad range of 54800 to 56800. One may sell silver commodity on top around 56500 with a stop loss above 57000. Oscillators are in negative territory.
Silver Resistance Levels – 56800/57330/57550
Silver Support Levels– 55700/ 55100/54800
Crude is trading in range of 5350 & 5200 in MCX commodity market for today. One may Buy crude if trades 20/30 Minutes above 5360 with a Stop loss below 5335.
Crude Resistance Levels– 5320 /5350/5385
Crude Support Levels– 5270/5217/5170
Copper is still trading in negative zone. Any higher side will call trader to sell copper commodity. One could go short @ 416 with stop loss of 419. With target of 411.5/407/404
Copper Resistance Levels – 419/424/427
Copper Support Levels– 412/407/404
MCX GOLD LEVELS
Gold face resistance of 28800 in MCx commodity market and make u-turn. It expected to find support around level of 28450-28400. If Gold broke one may sell for 27900
Gold Resistance Level – 28650 / 28725/28880
Gold Support Level– 28530/ 28420/28170
MCX SILVER LEVELS
Silver prices are expected to trade within a broad range of 54800 to 56800. One may sell silver commodity on top around 56500 with a stop loss above 57000. Oscillators are in negative territory.
Silver Resistance Levels – 56800/57330/57550
Silver Support Levels– 55700/ 55100/54800
MCX CRUDE LEVELS
Crude is trading in range of 5350 & 5200 in MCX commodity market for today. One may Buy crude if trades 20/30 Minutes above 5360 with a Stop loss below 5335.
Crude Resistance Levels– 5320 /5350/5385
Crude Support Levels– 5270/5217/5170
MCX COPPER LEVELS
Copper is still trading in negative zone. Any higher side will call trader to sell copper commodity. One could go short @ 416 with stop loss of 419. With target of 411.5/407/404
Copper Resistance Levels – 419/424/427
Copper Support Levels– 412/407/404
