Technical views and report of MCX Commodity Market | MCX Trading Tips

Gold held steady on Monday, buoyed by the ongoing debt crisis in the euro zone, while silver trimmed gains as a hike in margins by the Shanghai Gold Exchange kept sentiment in check. Shanghai copper fell on Monday on technicals, European debt problems and uncertainty about the monetary policies of the United States and China, on track for a 1 percent loss in May.

MCX SILVER (JULY)

R2: 59400 
R1: 58400
S1: 56300
S2: 54800
Trend: Consolidate
Strategy: Buy on dips

MCX COPPER (JUNE) 
R2: 430 
R1: 421

S1: 406 
S2: 395 
Trend: Consolidate 
Strategy: Buy on dips
 

MCX CRUDE OIL (JULY)

R2: 4700
R1: 4620 
S1: 4500 
S2: 4420 
Trend: Consolidate 
Strategy: Buy on dips