Monday, July 23, 2012

Commodity Market Trend for Today : 23rd-July-2012

Gold commodity  prices are expected to trade within a channel for today's commodity merket, a close above 29300 would indicate a fresh buying in the counter for MCX gold commodity. One can enter long with the mcx gold commodity if sustains 29300 on higher end.
Gold commodity support and resistance levels for today's commodity market are as follows:
Resistance Level :-29370/29440
Support Level:-29110/28970

Silver commodity prices are trading within a very narrow range, silver prices are likely to hold level 52500 on closing basis, we can expect a bounce till 53400. One should buy mcx silver commodity around 52500 with a stop loss below 52000.
Silver commodity resistance level for today is within the range 52800-53100 and support level at 52500-52180.

Crude commodity prices  can witness profit booking to the tune of 5050  – 5030, which should be a buying opportunity for crude commodity for the target at 5200.
Crude resistance level for today's commodity market is 5150/5210 and support level is 5070/5010.

Copper commodity prices are likely to trade weak in today's Commodity market and tested 418  -417 on  lower end. Important  level to watch out for is 417, a break below which price  are expected to fall till 410 -408.
Copper levels:
Resistance Level:- 424/427
Support Level:-421/417

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