MCX Commodity Market visit: 6th July 2012
MCX Gold gains due to rupee weakness in today's MCX commodity market. Gold trading range for the day is 29478-29970. Gold is trading above 29571, now intraday gold is holding support at 29478 and resistance at 29970. Silver trading range for the day is 52817-54803. Yesterday Silver is trading below 55215, with intraday support seen at 52817 and resistance at 54803. Crude trading range for the day is 4711-4955. Crude is holding with a support at 4711 and resistance will be likely at 4955. Copper ended with gains but dropped from highs. Copper trading range for the day is 423.2-434.6. Zinc trading range for the day is 102.27-105.57. Nickel trading range for the day is 914.87-955. Aluminium trading range for the day is 105.68-107.38. Nat.Gas trading range for the day is 157.53-165.13. Natural Gas is holding with a support at 157.53 and resistance will be likely at 165.13.Intraday MCX Commodity Calls
Buy MCX Silver @ 53615-53625Stop Loss: 53375
Target: 53820-53975
Sell MCX Crude Oil @ 4814-4825,
Stop Loss: 4855,
Target: 4740
Sell MCX Copper @ 428-429,
Stop Loss: 430.50,
Target: 424
