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.

MCX Zinc Updates and Trading Levels for For Today

Zinc prices are falling continuously on Indian commodity market MCX. Today also MCX Zinc has to face a negative day and its prices on MCX have been declined to 100 level and dropped by more than 1%. The strengthening concern over Euro zone debt crisis, improving business sentiment of Japan and such other factors extended the losses in Zinc commodity.

If Zinc breaks the support level of 99.50, it may face some more downside in Today's session. Technical resistance for upside is seen near 101.50. A break in either side can decide the trend of zinc.

MCX Base Metals Updates- Zinc, Copper, Nickel Trend

Prices are expected to Move higher unless it breaks the crucial support level of 413.50. Copper may test the level of 421 Followed by 424-425 for the day. But a direct fall can be seen below 412 to reach down to 410.50 and 407.50.


Trend is seen like bearish unless it breaks the level of 1175. The continuous selling presser may force Nickel to close below 1030-1025 levels.

In Zinc May Futures a consistent trade above 101.20 wont let any harm to the up trend and Zinc might test 102.80 initially followed by 103.50-105 levels. A correction could be seen till 100.30-98.50 if Zinc breaks below 101 level.