Wednesday, September 7, 2011

Support & Resistance Levels of MCX Commodity Market Today

GOLD FALLS FROM RECORD AFTER SWISS PEG FRANC.
CRUDE OIL EXTENDS DROP ON SIGNS OF SLOWING U.S. ECONOMY, RISING STOCKPILES.
COPPER IN LONDON DROPS FOR A FOURTH DAY ON CONCERN GLOBAL GROWTH TO SLOW.
DOMESTIC OIL AND OILSEED TRADE BEARISH.

MCX GOLD (OCT)
TREND: Bullish
R2: 28750
R1: 28400
S1: 27300
S2: 26975
STRATEGY: Buy on dips

MCX COPPER (NOV)
TREND: Consolidate
R2: 428
R1: 422
S1: 410
S2: 404
STRATEGY: Sell on higher levels

MCX CRUDE OIL (SEP)

TREND: Consolidate
R2: 4080
R1: 4020
S1: 3890
S2: 3810
STRATEGY: Buy on dips

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