Monday, December 5, 2011

Weekly MCX Commodity Market Updates

MCX Gold February
MCX Gold can trade in range of 29,000-29,500 in near term. Gold prices have reversed after taking support at 28,600 levels. Immediate resistance is at 29,300 levels. If this resistance is breached we expect prices to go up to 29,800 levels.

MCX Silver March

The daily price chart suggest that prices is taking support at levels of 55,900. Immediate resistance is at 57,500 levels. If we get a close above 57,500 we expect prices to go up to levels of 59,000.

MCX Copper February

MCX Copper Resistance is at 413 levels. If this resistance is breached we expect prices to go up to 426 levels.

Copper may trade in range of 405-411 in MCX while lead and zinc may remain in range of 106.50-108.50 and 104-106. Crude oil may trade in range of 5,100-5250 in near term.

Followers