Tuesday, June 21, 2011

MCX Commodity Market Report and tips Today

Gold gained on Monday as the euro strengthened and  the precious metal remained supported by euro zone debt woes. Crude oil prices fell on Monday, extending last week's losses, as risk aversion increased after euro zone finance ministers postponed a final decision on emergency loans to Greece. Copper fell on Monday as investors lost their appetite for risk on concerns over metals demand and after European finance ministers postponed an emergency loan to help Greece avoid defaulting.

Copper falls on demand concerns 
Nickel hits lowest since November last year  
Nickel inventories in LME-monitored warehouses fel l by 516 tonnes 
Lead inventories in LME-monitored warehouses fell  by 125 tonnes 
Gold gained on Monday as the euro strengthened 
Crude oil prices fell on Monday, extending last week's losses


MCX SILVER (JULY)
R2: 56200
R1: 54800
S1: 53200
S2: 51700
Trend: Consolidate
Strategy: Buy on dips

MCX CRUDE OIL (JULY)

R2: 4360
R1: 4280
S1: 4140
S2: 4040
Trend: Consolidate
Strategy: Sell on high

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