Saturday, August 27, 2011

Weekly MCX Commodity Market Updates

MCX Gold October for the next week we expect gold prices to find initial support at 27150-27100 levels and further below strong support is observed at 26500 levels. Resistance is now observed at 28200-28250 levels.

Trading levels for the week (29.08.11 TO 02.09.11)
Trend: Bullish
S1: 27150        R1: 28800
S2: 26500        R2: 29930

Recommendation: Buy MCX Gold October in the range of 27200-27100 with strict stop-loss below 26400  Targeting initially 28150 and then 28700.

MCX Silver December for the next week we expect Silver prices to find initial support at 63800-63700 levels and further below strong support is observed at  61200-61100 levels. Resistance is now observed at  65900-66000 levels.

Trading levels for the week (29.08.11 TO 02.09.11)
Trend: Bullish
S1: 63700         R1: 68700
S2: 61100         R2: 72200 

Recommendation:
Buy MCX Silver December in the range of 63800-63700 with strict stop-loss below 61000  Targeting initially 68150 
and then 68700.

MCX  Copper November for the next week we expect Copper prices to find initial support at 416-414 levels and further below strong support is observed at 408-407 levels. Resistance is now observed at 430-431 levels and strong resistance is seen at 436-438 levels.

Trading levels for the week (29.08.11 To 02.09.11)
Trend: Bullish
S1: 416               R1: 430
S2: 407                R2: 438

Recommendation: Buy MCX Copper November in the range of 417-415 with strict stop-loss below 405  Targeting initially 430 and  then 436.

MCX  Crude
September for the next week we expect Crude prices to find initial support at 3800-3790 levels and further below strong support is observed at  3650-3640 levels. Resistance is now observed at 4040-4060 levels.

Trading levels for the week (29.08.11 TO 02.09.11)
Trend: Bullish
S1: 3795                R1: 4040
S2: 3646                R2: 4170

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