Tuesday, August 9, 2011

Support & Resistance levels of MCX Commodity Market Today

GOLD TOPS $1,700 FOR FIRST TIME ON U.S. RATING.
CRUDE TUMBLES TO ALMOST EIGHT-MONTH LOW AFTER S&P DOWNGRADES U.S. RATING.
COPPER FALLS, CAPS BIGGEST WEEKLY DROP SINCE JUNE 2010 ON GROWTH CONCERNS.
INDIAN SPICES COMPLEX TRADE LOW.


MCX GOLD (OCT)

TREND: Bullish       
R2: 25950
R1: 25700
S1: 24990
S2: 24650
STRATEGY: Buy on dips

MCX COPPER (AUG)

TREND: Bearish
R2: 409
R1: 403
S1: 389
S2: 384
STRATEGY: Sell on Higher levels

MCX CRUDE OIL (AUG)
TREND: Bearish
R2: 3890   
R1: 3820
S1: 3730
S2: 3680
STRATEGY: Sell on Higher levels

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