MCX Energy Updates: Crude Continues to Fall over Weak Demand

Crude oil in the international market is falling continuously . Price of Brent crude oil has gone below the minimum value in the past two years and trading at $90 per barrel

Due to the plentiful supply of crude oil and decline in global demand, the crude oil price has been dropped.

Pira Energy Group CEO Gary Ross says the price of crude oil will deplete further.

Demand and Supply-

Gary Ross says that the market is reaching in excess as compared to the demand for crude oil.

Demand for crude oil has been declined in countries with euro as currency and Germany has reduced its oil imports. 

Technically, On MCX Side, Crude oil October contract is trading around 5180 after making a low of 5132. Short term trader can go for buy in crude around 5150 for the target of 5400-5500.

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. 

Crude Updates: Crude surges on the back of international cues

:Korea news threatened the overall commodity markets. Energy complex facing panic. North Korea says that it is entering "state of war" with South Korea after hearing this news, MCX in India witnessed sharp movements in crude oil since early trade today.

MCX Crude Oil prices already moved much higher today, Crude April contract trades around 5370-80 them one can enter into buying deal with stop loss of 5300 for target near 5500

WTI Crude oil Update :-

US sends stealth bomber after North Korea cut last hotline with South korea. If WTI closes and stays above 97 USD for next three consecutive Trading Days then we can see up to 103.25 USD Level.

Also for short to Medium Term the ultimate target for WTI is 109-113.45 USD levels.

Trade Alert - With the global uncertainty news WTI Looks bullish, it adversely impact on Indian Equity Market , so Be alert Don't buy equity or futures.

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.  

MCX Crude Updates and Silver Trend for Today

Crude oil is facing decline mode and has dropped nearly 1% in the domestic market.. MCX crude prices have gone below 4800 level and currently trading near 4765 level. NYMEX crude prices are trading near $88.50/ barrel while Brent crude prices have come down to $109. On Wednesday the U.S. Energy Department will release inventory data which may affect the market trend.

MCX Gold and Silver still continue to fall . However decline rate is slightly lower in MCX as compared to the international market but MCX silver has lost nearly 0.65% today. The white metal is facing stiff support near 59000 level and if silver fails to sustain this level, a free fall till 58000 can be seen. Bounce back rally after this level may lift up the prices to 60000-60500 level again in near term.

Day traders are suggested to buy silver on lower levels like 59100-150 for the target of 59500-59800-60200 levels.   

Copper - Crude Updates and Trading tips for Today

Decreasing demand in Europe, US and chine has put pressure on crude prices and it is facing decline today and NYMEX crude prices have come down to $90 per barrel. Domestic market has witnessed a downfall of more than 0.60% in crude till now and mcx crude has come down to 4650 level. Consistent trading below this level may extend the bearish trend in crude oil and we can see the prices to come down to 4600-4550 level. Buyers can take interest above 4680 level.

Strengthening of dollar has caused base metals in LME to decline sharply due to which MCX copper has to suffer an initial downside of more than half percent. Copper is trading near 431 level and a trade below 430 can further push the prices down to 426-424. Traders can go for short in this commodity below 430. Technically, upside is expected above 436 only.  

Commodity Updates- Silver and Crude Tips

MCX Silver Tips and Crude Updates

Weakness in the International markets and the strengthening of rupee against dollar has put put pressure on gold - silver and crude oil prices. Rupee against the dollar is trading at 53.20 and this rise in rupee has pushed Bullion metals and crude prices on back foot.

Silver has slipped more than 1.60 % on MCX and currently trading near 62200 level. He white metal has lost more than 1000 points today. Nearest support level for silver can be seen at around 61800 level. Breaching this level may extend the bearish trend in Silver till 60900 level.

MCX crude oil has slipped more than 1% on MCX and intraday traders can buy crude below 4900.

Sell Silver below 62200 for the targets of 6200-61800-61500 SL- 62500. Buying is recommended above 62800 only.

Gold silver Updates and MCX Tips for Today

In domestic markets, gold and silver are trading on the edge. The RSI indicator are favouring the positive trend for Gold So we can expect a rally in Gold above 29930 level.
Yesterday MCX Silver rose 1.6% and as expected, the rally has continued today also. Silver is now trading above 54200 and heading towards 54500 level. If it successfully breaches this level, we can see prices to reach 54800-55000 soon.
Technical Charts are also suggesting buying signal for both the precious metals. In other commodities, one can buy crude above 5000 level for the targets of 5050-570 level.

Commodity Updates- Gold Silver Up, Copper Trend is positive

Commodity Bullion Updates:

Domestic Bullion market started off with positive bias. The trend is looking bullish with MCX Gold trading above 30100 and Silver above 55200 level. Yesterday gold managed to close above 30000 at 30057 and witnessed 0.30% rise while silver closed with slight decline to close at 55017.

Crude Updates:

 NYMEX crude started with slight downfall but has recovered now and currently trading above $83/barrel. However mcx crude trend is still intact and after witnessing a decline of 0.30% on Wednesday, it has decline 0.30% again to trade around 4625 level. A trade below 4600 can bring prices down to 4550 level.

Copper Trend: 

Base metals opened in positive note. MCX Copper is trading higher with nearly 0.50% rise. If it manages to sustain above 412.50, we can expect copper prices to go above 416.50.

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.

Crude Oil Trend and Gold Silver Trading Tips

A Slight decline in domestic has been seen in crude oil due to profit booking today . However The prices are above Rs 5,050 level. NYMAX crude is trading up by 0.5%. Precious metals are trading higher on MCX. A trade on decline will be suitable for bullion metals so it is advised to buy on dips for intraday trading. Same strategy should be adopted for crude oil also.

MCX Crude Updates- Go Short in Crude Oil

The crude oil is still looking bearish due to European debt crisis and it is advisable to sell Crude at current levels. One can go for short in crude below 4310 for the targets of 4250-4200 with a stop loss of 4360.

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