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)

Recommendation:
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)

Recommendation:
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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