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.

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

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.   

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.

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.

MCX Silver Updates and Trading Range for Today

MCX Silver closed higher at 52566 yesterday after recovering from most losses in previous week's sessions. The up-trend was fallout of firm Silver prices after the release of the US economic data.

Buoyancy was upbeat in Silver in morning trades, as at MCX counter trades up 0.20 percent and tested new high at 52968 per Kilo grams. Festival demand in Asian market supports to Silver price sustain at higher level.

Looking at international environment, Gold and silver are showing huge sign of promise for gain at this moment. Silver price seems to be up for the day and may test price 53000 in intraday trades. Buying near 52200 can be consider as best opportunity for earn profit in day. For near term targets set to 53500 per Kilogram.

Commodity silver Trend Today

Silver has declined severely today and declined more than 3% on MCX. Prices have moved below 51200 level. Silver may see a recovery rally after this decline a rebound is expected before 51100 level. A trade above 52500 will stabilize the up-trend while below 51000 silver could decline more.

Commodity Gold Silver Updates

Commodity Trading Tips-

Buy Commodity Gold above 26400 TG-26500-26750 Stopl0ss 26300

Below 26150 Sell to Target 26000-25950

MCX Silver- Buy above 54750 for the targets of 54950-55200-55500 Stoploss- 54350

Below 53600 Silver is in bullish run.

Silver Updates and MCX Trading Tips for Today

Prices have just cleared up the resistance of 60150 and looking forward for next stiff resitance of 60500. A breach throgh the same may boost up the monemtum in Silver and prices can touch 61200-500 level soon.
Below 60000 prices likely to slide till 58900-57700 levels.

Buy Silver Above 60250 TG-60500-60700-900 SL-59900

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.

6TKWNMBESSAW

MCX Crude Oil Updates : 10 June 2011

MCX Crude June contract closed on Thursday at 4548 rupees per barrel, up by 26 rupees against previous close of 4522. The contract opened up this morning at 4554 made an intraday high at 4562 and last traded at 4520 down by 28 rupees after touching an intraday low of 4515 rupees.

In international markets, Crude prices last traded near 101 USD per barrel. Crude prices seen falling on the back of profit booking and may test 96-93 levels in the near future.

On MCX, Indian commodity exchange, Crude prices are likely to touch levels of 4340-4220 in the coming few days on the back of short selling.

Support for the said contract is seen at 4450 and below it; prices can test 4375 while the resistance levels are seen at 4575 and 4650 respectively. In the near term, MCX May Crude prices are likely to trade in a range of 4150-4600

Commodity market Tips for Today- MCX Calls

Gold (Aug Futures): Buy - 22550-600, Stoploss- 22470 and the target - 22650

Silver (July Futures): Buy- 56000-56050 for the targets of of 56250-56300-500

Crude Oil (June Futures): Buy - 4530-4545, Stoploss - 4480 and target - 4590-4620

Copper (June Futures): Buy - 404.50, Stoplos - 398.70 and the target - 409-411

MCX Gold Silver Report and intraday Updates

Gold June Futures
Gold June Futures is expected to trade in the range of 22580-22300 region. A breakout above 22570-80 can lift Gold towards 22650-22750 levels while below 22300 Gold may fall down to 22000 level.

Silver July Futures
A consistent trade above 57500 can force silver July futures to test 57900-58400 which would face consolidation and a drift lower later. Further rallies could be seen only above 59000. Below 55800 silver may break down to 55000-54500 levels.


For Intraday One can Buy Silver July above 57500-550 Target 57600-750-800 Stoploss-57150.