Tuesday, August 28, 2012

MCX Commodity Prices to Trade

MCX Gold commodity prices can witness profit booking to the level of 30800 as oscillators indicating over bought. One can expect support around 30800 for Gold commodity.

Silver prices too are expected to witness profit taking if it sustains below 58300, prices can test 57200 56500 on lower end.

Crude prices are expected to trade lower as it is resisting 5440 on higher end. Prices are expected to test 5220 5200.one can sell around 5340 -5350.

Copper prices are likely to witness a range bound move from 429 to 421 in today's MCX Commodity market. One can trade with a negative bias with copper commodity maintaining a stop loss above 430.

Nickel prices are expected witness profit booking for today's commodity market, one can sell nickel with a stop loss above 924, mcx nickel commodity prices are expected to test 895 -890 on lower end.

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