Base Metals and Energy Updates: Copper Sideways, Natural Gas Bullish as US suffers Cold weather

Intraday support for copper remains at 441 with immediate support at 443.5, till holds
above will trade sideways to up. Immediate resistance is at 448 and sustained breach above
the same could target 451 - 455. But, our view could negate if it breaches below 441.

Nickel continues to trade sideways to up and is close to 888 level at present. Support for the 

day is at 882 followed by strong support at 876, till holds above buying is advisable for 

intraday. Immediate resistance is at 894 and sustained breach above the same could extend 

upside towards 907 - 910

Crude oil corrected yesterday on failure to breach resistance at 6270. However, the price 

has good support at 6150-6170 range. The short-term trend remains positive above this 

support area. Breach above immediate resistance at 6270 could resume the uptrend now for 

the target of 6350. 

Price has support at 332 level with immediate resistance at 338. Sustained trading above 

338 could extend the upside move towards 345 followed by strong resistance at 351 level. 

Selling is advisable on sustained trading below 332. Next best support is at 325 level. 

MCX Gold Trend with Levels : Copper Updates and Tips

MCX Gold Trend For Today :-

In Indian commodity market, MCX precious metals are trading on flat to positive note. MCX Gold opens on a positive note but technical charts are suggesting sideways trend.

MCX Gold has opened at the level of 29860. For now, it can make a high around 29973  and low around 29860. As its open price and low level are same, it can boost up in today's trading session.

Technically if we talk about support and resistance levels then, first resistance level is marked near 30000 and second resistance level is around 30255. On the other hand, first support can be seen near 29660 and second support level is at 29510.

MCX Copper Recommendations :- 

Sell copper below 457.80 stoploss 459.80 target 456,455,454.

MCX Gold Silver Tips for Today and Copper Updates for Intraday trading

MCX commodity marketing is sparkling with green color as MCX gold Silver are trading up with the expectations that rupee will continue to remain weak against dollar. Silver prices have witnessed an upside of nearly 0.40% while mcx gold has added 200+ points to trade above the level of Rs 28200. Precious metals are likely to continue with positive trend for the day. Technically, level of 27900 is acting as support for mcx gold futures while 28400 is the major upside resistance level.

Day traders can go for buy in silver above 44400 for the targets of 44700-44900. A successful trade above 44900 would invite more higher levels in this bullion metal.

In base metals, Zinc and nickel could be another intraday pick for buying while one can buy Copper (June futures) above 421.50 for the targets of 423.50-424-426 levels.

Base Metals: MCX Nickel and Copper Trend for Today

Base metals are trading on higher note in MCX. Nickel, with a gain of more than 1%, is trading above 870 level and its nearest support level is 877 while on the downside, support level is 858. Downside is expected below 855 level.

Trend- Up, recommendation- Buy

Copper is facing a resistance at 224 level and a breach above the same would require to see more momentum in this base metal. However, major level to breach is 428-432 for a sustained upside. We can see copper to reach 424-427 if it consistently sustains above 221 level.

Trend – Up, recommendation- Buy

Note: Trading in equity and commodity market inherits risk. The trading recommendations provided here in this blog are the individual views of the author of this blog which he/she put across after the detailed technical and fundamental analysis of the market. Commodity Markets and/or in any of financial instruments are subject to external risks. Readers of this blog is free to take their own decision and “Commodity Updates” does not hold and responsibility ifor the loss incurred due to the information provided herewith.

MCX Commodity Tips For Today: Gold Silver and Base Metals Updates

Silver July contract was trading at Rs 44543 and has seen a decline of nearly 600 points so far. However the decline is being seen in silver commodity still we can see a re-bounce if silver manages to regain the level of 44650 again while in gold we can see the buying momentum above 26750 level. Base metals are also trading in red zone. If we talk about copper, its June contract is trading below 396 after seeing a loss of 1.40 points. Inability to sustain above the level of 395 can put more selling pressure and copper can decline further to 394-393.50 level. Buying is advocated above 101.30 in Zinc futures with a strict stop-loss of 99.20 and a target set of 103-104.50 level.

Crude and Copper updates: Commodity Tips for Today

Technically a breach of 5025 was required for crude oil to get some upside momentum which is accomplished now. on the flip-side this energy commodity is holding the stiff support level of 5125. Currently, the prices are have gained nearly 1% and trading around 5154 level ( April future). RSI suggests buying in mcx crude and We can expect prices to go up to 5175-5185 level.

In Base metals, MCX copper is likely to trade positive. Prices have already touched the resistance level of 414.50 and one can buy MCX copper Oil around Rs 415.00 with a stop loss placed below Rs 413.50 for targets of Rs 417.50-419.00 levels.  

Commodity Updates: Silver and Copper Trend Today

Precious metals have to face decline today amd gold and silver commodities are trading lower on domestic commodity market. MCX Gold (Dec contract) has slip down to 30820 level after a decline of more than 130 points while silver has dipped 0.60% to trade around 59300 level. On Charts, silver is trending downwards and facing the immediate support level of 59000 level below which, it may stumble some more.


All base metals have seen a downfall today . Copper, Aluminum, Zinc and Lead are in decline mode. Copper is trading near 420 level and if it trades below 418, prices can witness a downside till 414-412 level while above the level of 424.60, copper looks bullish.




MCX Copper (November Futures)- Sell below 418 Targets- 414-412 while buy above 423.50


MCX Gold (December futures): Sell - 30780, Target - 30700-30650, stoploss – 31000


else buy above 31050, targets- 31150-31300


MCX Crude oil (November Futures): Buy on dips- 4650-60, Target - 4700-4750, stoploss - 4630

Commodity Updates: Silver, Crude, Copper and Zinc Updates

MCX Gold Silver prices have to see a decline today. Both the commodities are trading more than half percent currently. The growing uncertainty of Q3 in US market has pushed the prices in back foot.
Despite weakness in rupee against Dollar, crude prices have have seen 1% upside. MCX crude futures is trading at around 5360 level. MCX crude trend is positive and traders can buy crude oil on lower levels.
In base metals, all commodities are trading negative in MCX. Copper is near to breach 424 level which if happens, can lead copper to come down to 422-420 level. 420 is acting as stiff support for Copper Metal.

Copper Updates For Today

MCX Copper View for Today

Copper along with other base metals has faced a sharp decline today. It is trading near 418 with a loss of more than 1%. Technically it has breached the immediate support of 418.50 and remaining below the same may extend this downside towards 416-414 level. However negative LME inventory data has supported the international copper prices so a bounce back recovery can not be ruled out. Sustained upside is seen above 424 only.

Commodity Updates: Silver Trend and Copper Tips for Today

Precious metals are trading with no fix direction in domestic market. MCX gold has been trading within a range of 100-115 points since morning. Silver though witnessed a gain of nearly 0.30% to trade above 53350 but instability to remain above the same preventing silver from rally. For near term, if Silver remains above 53500 with considerable volume, we can expect this metal to further go up to 53900-54500 levels.In Gold, day traders cab buy at 29800 with a Stop loss of 29730 and Target 29880.

For intraday buyers, copper can be a profitable pick above 421.50 level above which this base metal can elevate up to 424.00 followed by 426.00.

MCX Copper - Zinc Updates

MCX Zinc opened positive today and its July futures trading near the resistance level of 103.80 breaching which can elevate zinc July futures up to 104.1-104.30 level for the day. First Support for this base metal is seen near 103.20. Below the same prices may decline to 102.80 level. The charts are suggesting that zinc is in buying mode so one can initiate long position for the target of 104.00-104.30 level.

The other base metal commodity, copper is also trading up nearly 0.35%. It has crucial intraday support st 425.70 while 421.50 is acting as downside support level. A breach in either side would decide the trend for the day. Overall trend is positive so buying is recommended.

Copper & Silver Updates for Today

MCX bullion metals are trading under pressure again. Rupee trading up against dollar which led gold prices to remain under red mark.
MCX Silver has come down near 52600 level after witnessing 0.27% decline today. Market expectations for silver commodity are likely to stay week and the trend will depend on global cues.Technically 52200 is the level after which silver can be in proper bullish mode for near term. In today's trade, traders may not find much profit in downside. However if silver goes below 52450 level, prices are expected to touch 52000 level.In Base metals, Copper could be a buy on dips pick. Initially a downside can be seen in Copper till 420-418 level and then we can see a re-bounce recovery.

Crude Updates and Commodity Tips for Today

Crude oil prices have seen some positiveness in the market today and MCX crude managed to touch 4800 level. The trend of mcx crude is likely to remain positive for the day long but the trading range may confine withing the range of 4750-4850. However a breach above 4870 can extend the the positiveness towards 4900 level also. Below 4715, Crude may see free fall again.

Commodity Tips for Today-

MCX Silver- Buy Silver On dips around 53100 level for the target of 53500.

Another Commodity we are picking from base metals- MCX copper. Since, LME copper is trading up with volume, we can expect some rise in domestic market also. So one can go for buy in copper above 425 for the targets of 428-429 while keeping a strict stop-loss below 423.70.

Commodity Gold & Silver Updates Today

Comex Gold and Silver prices have witnessed a sharp decline Today. With more than 1.30% decline comex Gold is trading near 1568 level while Silver slumped 1.5% to trade at $28 per ounce.

In MCX, Bullion metals declined heavily on Thursday. Gold witnessed 2.4% drop while Silver fell more than 3%.. The weak cues across the globe are suggesting that the precious metals are likely to trade with negative bias again. Below the level of 54000, silver may come down to 53600-53350 level while Gold may come down below 29000 level.

Crude and copper are also in decline mode as  NYMAX crude  and LME copper are suffering downside in the international market.

Copper- Crude Updates for Today: Indian Commodity Market New

 Extending yesterday's gains. Crude oil has climbed up more than 1% today. MCX crude oil is trading up near 4750 level and prices are expected to go further up in near future.

With a gain of 1.60%, Copper is trading above 412.50 level which was the crucial resistance level for its June contract. Breaching this level is indicating that copper can further go up to 416-422 level so traders can buy this base metal for these targets keeping strict stop-loss on downside. 409 is the nearest support level for copper commodity.

Toda's Commodity Market- Gold silver Declined, MCX Copper may decline further

Indian commodity Market , as expected, saw a downfall in Gold silver precious metals right from the beginning of the day. Decline in international market cause the selling pressure in domestic market also. MCX Gold is trading below 29950 level and has dropped more than 0.50%. Silver has declined nearly 1%.

In Base metals, Copper futures is trading near its support level of 426 below which it can decline further.

Sell Copper (June) below 426 Stoploss- 427.90 TG- 422.50-421.00

Sell MCX Silver below 53850 stoploss 54050 TG- 53600-53450

Commodity Copper Updates

Prices has slipped down to more than 2.50 % and still finding a way towards 352-247 level. But until prices move below 356, we can see an upside rally till 363-367. Major rallies are expected only above 369-372. Copper may encounter major more sell offs below 347. You can buy Copper around 359.50 TG- 362-367 below 352, short selling is advised.

MCX Updates- Copper Trend and Intraday Tips For Today

Copper Yesterday opened at 407.65 and after making a low of 402.35 and a day high of 409.50 finally settled down at

408.45.

For Today below 405.65 copper may see some sell of towards 403-401 follwed 398-396 later. A healthy trade above

409.7 may lift copper upto 412-414 follwed by 417 level later.

For Intraday one can go for Buy in Copper above 409.8 for the targets of 412-414 Stoploss-406.00

below 405.65 go for Sell targeting 402-401 levels.

Base Metals Updates- Nickel and Copper Trading Levels

Copper has inherited the the Negative trend from last week and Today prices are likely to go below 398 levels. A Majo sell of can be seen if Copper trades below 396 level. If this happens, Copper may fall down to 394-392 levels followed by 388. A Strong trade above 402 can show some upside momentum and prices stretch up to 406 levels.

Nickel is trading near its support zone of 1004 and a strong sell of can be seen below 1000 levels and nickel might fall down to 981-960 levels. while above 1022 some upside trend can be seen till 1034-1045 levels.

Keep Visiting and get daily Silver Updates also.

Copper Trend For Today 19 May 2011

Copper Prices are likely to trade Higher if it manages to trade above 403 levels and prices might go up to 409 which could be followed by 416-421 if it breaks 411 level. Below 398 prices may face sharp fall till 395-391.

One can initiate long only after 403.50 for the targets of 406-409 keeping a stop loss below 398.