Wednesday, June 15, 2011

MCX Commodity market news and trading tips today

Brent crude oil hit is highest in over five weeks on Tuesday as data from the United States and China helped to reassure investors that economic recovery was on track and that demand would be robust. Copper rose to its highest in a week on Tuesday after better than-expected U.S. retail sales data consolidated earlier gains made on data from China.

Gold fell to its lowest in more than a week on Tuesday 
Gold and silver ETF holdings fall 
U.S. retail, PPI data better than forecast
China industrial output up 13.3 percent in May 
Crude Oil prices recovers sharply above 99$
Copper rose to its highest in a week on Tuesday

MCX GOLD (AUG)
R2: 22700
R1: 22400
S1: 22150
S2: 21900
Trend: Consolidate
Strategy: Buy on dips

MCX CRUDE OIL (JUNE)
R2: 4545
R1: 4460
S1: 4365
S2: 4270
Trend: Consolidate
Strategy: Buy on dips

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