Tuesday, April 17, 2012

MCX Commodity Tips For Today : 17th April 2012

Bullion traded sideways on Monday's MCX commodity market. MCX Gold gained 100 point after making a low of 28441 and MCX silver gained 450 point after making a low of 55501 on intraday basis as Dollar Index dropped and EuroUsd  gained after Italian Trade balance data which shows European economy growing. Base Metals are seen weak in commodity market as Chinese economy is slowing down.

MCX GOLD Commodity for Today

Gold face resistance level of 28650 for today's MCX commodity market and make u-turn. It expected to find resistance around level of 28650-28700 for gold commodity. One may sell Gold for 27620 with a stop loss above  27665.

Resistance Levels for Gold Commodity for today – 28650 / 28725/28880
Support levels for Gold Commodity for Today – 28530/ 28420/28170

MCX SILVER Commodity Levels for Today's Commodity Market

MCX Silver commodity's prices gained as short term profit booking seen today. Tomorrow it is expected to take a resistance of 56200. One may sell silver at  around 56200 with a stop loss above 56330. Oscillators are in negative territory.

Resistance levels for silver – 56800/57330/57550
Support levels for silver – 55500/ 55100/54800

MCX CRUDE Commodity Updates for Today

Crude is still trading in a range. Tomorrow one may Buy crude commodity if trades around 5280-5300 with a Stop loss below 5265.

Resistance Levels  – /5350/5385/5425
Support Levels  – 5270/5217/5170

MCX COPPER Commodity Updates for Today

Short term profit booking seen in Copper but it is still trading in negative zone. Any higher side will call trader to sell copper. One could go short around 414 with stop loss above 417. With target of 411.5/408/405

Resistance levels for today's copper commodity – 417/421/427
Support levels for today's copper commodity– 411/407/404


Natural Gas gained 1.60 positive buying seen today. One may buy natural gas around 104.5 with a stop loss below 103 & a target of 108.

Resistance Levels – 408/411/417
Support levels – 403/402/401

Leave a Reply

Note: Only a member of this blog may post a comment.