MCX Crude and Copper Updates for Today

After Monday's sharp decline in bullion metals, gold silver prices have strengthened today.

Base metals have also gained well today. MCX Copper climbed 0.5 per cent and the price has risen to Rs 445. Copper prices are trading firmly on the London Metal Exchange which has supported the the domestic market as well. In the rest of the metals have also gained around 0.50 to 1%.

For Day trading, copper is expected to rise till 448-450 level so one can trade accordingly. Key resistance is seen near 450 level while crucial level for downside is 438.

Crude oil have seen a boom in prices despite of the predictions that supply crude oil is projected to grow even faster. On MCX, crude oil prices have gone up to Rs 4950. One can buy mcx crude above 4950 for the targets of 5000-5120.

MCX Copper Updates & Nickel Trend

MCX base metals saw a weak opening today. All base metals have seen a decline this morning. copper has dipped nearly 0.40% till now. It is trading around 429 level and facing immediate support at 427.70. Breaching this level could extend the negativeness till 425-423 level. On the upside, 430.30 will be required to cross for a bullish momentum.

MCX nickel is expected to trade sideways within a range of 883- 897. Breaching either side would trigger the trend accordingly. One can sell Nickel below 889 for the targets of 883-878 while above 897, buying is advised.