MCX Commodity Tips for Today- Commodity Updates

MCX Gold Buy - 22120, stoploss - 22000 Target - 22300

Crude Oil: Buy - 4220, stoploss - 4140, Target - 4320

Silver Buy above 52100, stoploss - 51800, Target - 52500-52800

MCX Copper Buy above 420.50 Targets-422.50-425 Stoploss- 417.50

Crude Updates- Crude Likely to remain in downtrend

Crude Oil prices are likely to remain bearish due to weak demand. On MCX crude oil prices may touch 4000-3950 Level in near term.
On the downside support for crude is seen near 4035 and below it prices may fall down to 3935 levels.
The Resistance for cruds is seems to be at 4200 above which the next resistance is 4300.
Trading range for crude oil is 3950-4250 for near term.

Crude Oil Updates For Today

Crude oil is trading and likley to trdae further with negative bias until it crosses the 4160 level. More downfall can be seen if breached the level of 4090 with enough volume. A drift move above 4200 will support the bullish trend in Crude oil and prices might test 4250-4280 later after this level.
Intraday Traders can sell Crude oil July futures below 4100 levels for the targets of 4070-4050 keeping a stoploss above 4160.
Above 4160 trend is reversal and traders can buy above the same.

MCX Crude Oil Updates- Trading Tips for Today

Despite Concern of declining supply, Crude oil in the last 4 days has lost nearly 9 per cent. Technically prices are still hovering to to touch 4080-4040 in downside but further sharp fall can be seen only below 4020. Inability to float below 4020 would negate our negative view and corrective pullback can be seen till 4200-4270 later. The near term trend is seems to be bearish which could be negate if prcies close above 4300 with good volume.

For Intraday Sell Crude Oil (June) below 4125 for the targets of 4180-4170 Stoploss- 4155

above 4160 go for buy in Crude oil.