Commodity MCx Tips- Gold and Copper Trend

Gold firmed, rising in tandem with the euro and risky assets ahead of a European Central Bank policy meeting as investors watch for more action from policymakers to contain the euro zone debt crisis. Spot gold gained half a percent to $1,625.34 an ounce. Spot Gold is currently trading at $1559.50.

MCX Gold August is currently above 30000, it is trading up  points for
the day. Comex Silver is currently trading at $27.81 whereas MCX Silver July
is currently trading at `53809, it is down by `301.

MCX Copper is also Trading up by 0.70%.  Above 411, it can go upto 414-416 level.

Commodity Tips for Today-

MCX gold (August futures): Buy - 30000, stoploss of Rs - 29 850 and the target - 30 250

MCX Copper (June futures): Buy - 411.50, stoploss of Rs - 407.50 goal - 414.50-416-419

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Commodity News and Updates Today

Gold and Silver traded under pressure due to strengthening of rupee against dollar. Crude has to suffer severely amid extremely weak global trend. Domestic MCX crude dropped more than 3% today and this had an adverse effect on precious metals too. A slight decline was seen in Copper commodity which was riding bull yesterday. But Copper prices may overcome this bearish trend if a consistent trade above 415.50 happens in Copper futures.

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Copper Updates and Trend For Today

Copper has recovered. Copper price has risen to Rs 413.50 on MCX and now heading towards 414.50 level.  Copper on the London Metal Exchange is trading up nearly 1 percent, and prices are close to 7,900 dollars per tonne. The opening stock of Copper in London Metal Exchange warehouse was 358 250 tonnes which is 6,000 tonnes less than yesterday. Despite the record fall in prices in last years, the volume of copper on the London Metal Exchange rose to nearly 32 per cent.

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Crude Updates and Trading Tips

Crude is the only commodity surviving on MCX Today and has gained almost 1.50%. Crude oil January contract is trading around 5365 level and we can expect prices to reach near 5400 level. After this level crude can take reversal for a short while. So traders are required to buy crude oil on dips.

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Crude Updates: Commodity Tips for Today

Crude Oil prices are trading with positive bias and a good intraday bullish trend is anticipated. But prices are likely to take a step back till 4020-4000 before the rally towards 4080-40120. A consistent trade above 4150 would invite further upside. Below 3990 Crude oil is looking weak.
Traders are required to take positions accordingly.

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Copper MCX tips: Trading Strategy For Today

The prices are moving with good upward momentum. Copper has breached the crucial level of 410.50 and now we can expect some more rallies towards 414.50-417 initially. Later prices may continue its rally till 421 to 424.
For the day one can buy copper for the targets of 414.50-416 keeping a sl below 407.50.

If Copper dives back, go for sell below 405 mark to target 401-498.

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Bullion Updates: MCX Silver Tips For Today

The prices have crossed the crucial 61000 mark which may invite some more rallies till 61500-61700 for the day. A consistent trade above the 61200 with adequate volume is required for to achieve higher levels. Below the same, Silver might face some downfall.
Traders are advised to take long positions above 61200 for the targets of 61500-61700 SL below 60890.

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MCX Gold Updates: Evening Outlook and Trading Strategy

MCX gold (October ) Futures is expected to touch 26210 if it manages to stay above 26000 mark. After recovering from recent dips, prices recovered its momentum and now looking for a consolidation phase of 26200-26400. A direct fall below 25850 may invite unexpected downtrend in Gold and it may slip down to 25780-25750. A dip till 25900 could be taken as good opportunity to take new positions in Gold Futures.
Traders can Buy Gold above 26200 to target 26250-70-26300

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MCX Bullion Updates- Silver Trading Tips (8 August 2011)

A dip towards 59300 may be seen in as a back step for another spike and it may touch up to 59500-800 and even 60000 for the day. A consistent trade above the same (60000) is required to continue with upward trajectory. Below 58750 may invite a sell off in silver towards 57500-57000. Overall session is likely to be range bound. 

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MCX Bullion Metals- Gold Updates and Trading strategy

MCX Gold (August) has been trading well with Intraday positive bias and may go up to 24150-200 for the day if it manages to stay above 24000 mark. But if it break the day low of 23851, a sell off may be seen in Gold till 23750-700. The overall trend is looking positive and Day traders can buy Gold above 24050 to target 24100-150-200 stoploss below 23970.

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MCX Gold Updates- Day Trading Levels and Trading Strategy

Gold august Futures shined bright today and after making high of 24068 now trading below 23900. Now if prices breaks 23840 level from here a drift downside trend could be seen towards 23800-23780. On the other side a move above 24100 may take Gold upto 24150-24200.

For Intraday Traders may seel Gold august futures Below 29840 To target 29800-780
Above 23900 Buy To targets- 23950-24000.

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Precious Metals Updates: Silver Trading Strategy For 27 July

MCX Silver (September) after making day low of 59111 showed good upside momentum . Silver traded in manage of more than 1000 points on Tuesday and could managed to close above 60000. Silver has successfully crossed its resistance near to 60200 and now it is heading towards 61000 mark which is the next crucial upside resistance for major rallies.

Day traders can buy Silver around 60250 for the targets of 60500-60800 and If Silver breaches 61000 mark, they can target some more upside levels.

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MCX Silver Updates: Evening Report

Silver prices are heading towards 59000 mark and If prices moves above 59200 mark, more upside levels may be seen till 59500-59800 for the day. In broad perspective 60800 will act as crucial resistance to see the rally. Below 57900 silver is looking bearish.

For intraday Traders can buy silver above 59100 for the targets of 59400-700 Stoploss- 58800.

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MCX Copper Updates : Trading Strategy For 19 July

Copper is likely to trade with positive bias on Thursday if it trades above 437 mark. If the same happens, copper may touch 440-444 levels. Negative trend is seen only below 430 level which can take copper towards 427-422 levels.
Therefore traders are advised to Buy Copper above 437 for the targets of 440-442-444 stop-loss below 430

Below 430 Sell copper targets- 427-424 .

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MCX Crude Updates and Trading Tips for Today

Crude oil Showed up a good momentum on Thursday and its most active contract (July futures) rallied almost 1.5%.
The said contract opened at 4299, made an intraday high of 4409 and finally closed at 4363.
Crude is likely to touch 4400-4450 for the day if it manages to sustain above 5350 mark.
Crucial support for the said contract is seems to reside near 4300. A trade below the same may let crude oil to test 4250-4200 levels.
Trading range for crude oil for near term is 4250-4450.
Traders can buy crude oil 4360-70 for the targets- 4400-4450 stoploss-4310
below 4299 sell crude oil for targets- 4250-4225.

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Silver MCX Tips- Trading Levels for Today

Again on second consecutive day, Silver showed up a positive session and managed to close above 54000 mark with a gain of more than 1.5%. Now for the day silver is likely to trade with positive bias. 54700 will act as a crucial level. A trade above the same may help Silver to extend its bulish trend towards 55200-55000 and even 56000 level later.

Traders can buy Silver (August) above 54200 for the targets of 54500-54700 (Intraday) and can wait for the targets of 55000 also after booking the partial profit.

Below 53650 Silver is looking bearish.

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MCX Nickel Updates

A consistent trade above 1050-50 with Good volume will be required for Nickel to sustain its positive trend towards 1065-75 and even more later. If Nickel fails to trade successfully above the same level below 1045 it drop down to 1027-1018 and even 1010 later.

One can initiate Long positions in Nickel above 1055 for the targets of 1068-1075.
Below 1040 sell Copper targeting 1028-1020

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MCX Zinc and Nickel Updates- Trading Range Today

Nickel is trading with Negative bias as its is hovering below crcial levels of 998. In Nickel a Major sell off can be seen if it breaches the strong support level of 965 while above 998 can help Nickel to rise up to 1008-1115 levels later.

In Broad prospective Zinc is still trading in negative bias but some Intraday momentum can be seen is 97.50 level is not broken. A trade below 96.50 can be fatal for intraday and weak bias can get more strength to target 93 levels later.

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Copper Updates Today

In Terms of trading volume, Copper is at second place after Crude oil. About 40,000 lots has been traded in Copper today. But since copper is trading with negative bias which is preventing copper to catch 409 levels which is crucial resistance level for Copper commodity. A minor support is seen near 403.50 a breach below the same may call for some downfall towards 400-399 levels while a move above 409 levels can negate our bearish view and copper may fly up to 411 followed by 412-414 levels later.
For Intraday Buy copper mcx June contract above 407.50 targets-409-4011 stoploss-404.50
below 403.50 sell copper for the targets of 401-399.

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MCX Base metals Updates- Copper Trend

Copper rose amid Chinese economic data mixed and is likely to move further up is breaches the level of 406. Above 407 Copper can test 410 level and then 412-414 levels. If it trades Below 405, a fall it 403-400 can be seen for the day.

For intraday Buy Copper futures June contract above 406.50 for the targets of 407.50-409.00 Stoploss 405.50.

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