Wednesday, August 24, 2011

Support & Resistance levels of MCX Commodity Market

GOLD RETREATS FROM RECORD HIGH ABOVE $1,900/OZ.
CRUDE OIL RISES A SECOND DAY ON U.S. FUEL DEMAND, LIBYA CRUDE PRODUCTION OUTLOOK.
COPPER CLIMBS ON SPECULATION FED WILL TAKE STEPS TO BOLSTER U.S. ECONOMY.
INDIAN SPICES COMPLEX TRADE UP.

MCX SILVER (SEP)

TREND: Bullish   
R2: 66800
R1: 65350
S1: 62450
S2: 60500
STRATEGY: Buy on dips

MCX ZINC (AUG)

TREND: Bearish
R2: 105.05
R1: 102.75
S1: 96.60
S2: 94.20
STRATEGY: Sell on Higher levels

MCX NATURAL GAS (AUG)
TREND: Bearish
R2: 192
R1: 187
S1: 176
S2: 171
STRATEGY: Sell on Higher levels

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