Monday, February 13, 2012

MCX Commodity Tips - Intraday Market Updates for Today 13 Feb 2012

Bullion counter can trade with positive note tracking bounce back in international markets. Gold can trade in range of 28,250-28,500 while silver can trade in range of 56,500-57,800. Base metals may also see some bounce back on the hope of Greece rescue deal this week. All base metals are trading at negative prices today. Copper is trading in the range of Rs. 422-430. Crude oil can trade with positive bias in range of 4,900-5,000 in near term.

MCX Copper Updates and Trading Tips:
Base metal prices traded higher in the last week, Copper prices breached 20-month`s high on news that the Chinese government pledged to support first-time home buyers in China. MCX February Copper shall find a strong support at 415/409 levels and resistance at 438/445 levels.