Thursday, August 18, 2011

Support & Resistance Levels of MCX Commodity Market

GOLD STEADY ON PERSISTENT EURO ZONE FEAR.
CRUDE OIL CLIMBS IN NEW YORK AS U.S. FUEL SUPPLY DROP SIGNALS INCREASED DEMAND.
COPPER GAINS AS STOCKPILES DECLINE ON CHINA BUYING.
INDIAN PEPPER TRADED UP; INDAIN TURMERIC AND JEERA TRADE DOWN.

MCX GOLD (OCT)
TREND: Bullish     
R2: 26900
R1: 26650
S1: 26130
S2: 25850
STRATEGY: Buy on dips

MCX COPPER (AUG)
TREND: Bearish
R2: 415
R1: 409
S1: 398
S2: 392
STRATEGY: Sell on Higher levels

MCX CRUDE OIL (AUG)

TREND: Bearish
R2: 4080 
R1: 4035
S1: 3910
S2: 3850
STRATEGY: Sell on Higher levels

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