Friday, August 19, 2011

MCX Commodity Market Updates and Trading Tips

Comex Gold (Oct)

Fundamental View: Gold prices moved higher registered new highs of USD 1,832/ounce.

Recommendation: Intraday Range between 1,836-1,890.

MCX Gold (Oct)

Recommendation: Intraday range can be 27,260 - 28,000.

Comex Silver (Sept)

Fundamental View: Silver prices rose further by 174 to Rs 60,642 per kg in futures trade today as market participants restocked the metal.

MCX Silver (Sept)

Buy at 61,750 target 62,400 stop loss 61,500. If silver is crossing the level of 62,500 then it will go up to 68,200.

MCX Copper (August)

Resistance at 404.70.Short at 402.50 target 397.50 stop loss 404.80. It is expected to go down till 377 within next two months.

Nymex Crude (Sept)

Fundamental View: US crude futures fell nearly 6% as a fresh batch of weak economic data from the United States hit investor confidence.

Recommendation: Short at 82.20 target 76.80 stop loss 84.50.

MCX Crude (August)

Recommendation: Short at 3,720 target 3,545 stop loss 3,790.

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