MCX Commodity Market Updates and News Today

GOLD STEADY NEAR SIX WEEK HIGHS DUE TO ITALY FEARS.

COPPER STEADIES AHEAD OF CRUCIAL VOTE IN ITALY.
DOMESTIC OIL AND OILSEED TRADE LOW.
CRUDE OIL TRADES NEAR A THREE-MONTH HIGH ON U.S. SUPPLY, EUROPEAN CRISIS OUTLOOK.

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Support & Resistance levels of MCX Commodity Market for Monday

GOLD FUTURES RALLY AS WORLD ECONOMY, DEBT CONCERNS SPUR DEMAND FOR A HAVEN.
CRUDE OIL DROPS MOST IN A WEEK AS EURO TUMBLES ON EUROPEAN DEBT CRISIS.
COPPER TUMBLES MOST IN A MONTH AS OBAMA, BERNANKE FAIL TO BOOST CONFIDENCE.
INDIAN CHANA EDGES HIGHER ON LIMITED STOCK.

MCX GOLD (OCT)
TREND: Consolidate
R2: 28750
R1: 28450
S1: 27900
S2: 26650
STRATEGY: Buy on dips

MCX SILVER (DEC)
TREND: Consolidate
R2: 68500
R1: 66800
S1: 64400
S2: 62500
STRATEGY: Buy on dips

MCX COPPER (NOV)
TREND: Consolidate
R2: 427
R1: 421
S1: 409
S2: 404
STRATEGY: Buy on dips

MCX CRUDE OIL (SEP)
TREND: Consolidate
R2: 4210
R1: 4140
S1: 4000
S2: 3935
STRATEGY: Buy on dips

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Support and Resistance levels of MCX Commodity Market

GOLD BUOYED BY UNCERTAINTY AHEAD OF FED MINUTES.
CRUDE OIL FALLS FROM TWO-WEEK HIGH IN NEW YORK ON U.S. SUPPLY FORECASTS.
COPPER RISES TO THREE-WEEK HIGH IN LONDON TRADING ON U.S. GROWTH OUTLOOK.
DOMESTIC OIL AND OILSEED ERASES EARLY HIGHS AND TRADE LOW.

MCX SILVER (SEP)
TREND: Bullish  
R2: 65200
R1: 63400
S1: 60600
S2: 59200
STRATEGY: Buy on dips

MCX COPPER (AUG)
TREND: Bearish
R2: 434
R1: 428
S1: 417
S2: 412
STRATEGY: Sell on Higher levels

MCX CRUDE OIL (SEP)
TREND: Bearish
R2: 4210
R1: 4150
S1: 4030
S2: 3980
STRATEGY: Sell on Higher levels

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MCX Commodity Market Updates & News Today

The Multi Commodity Exchange (MCX), COMDEX is trading down by 30.16 points, or 0.84%, at 3,562.54 after opening at 3,590.98. MCXMETAL is trading downward by 69.73 points, or 1.37%, at 5,017.49 after opening at 5,054.00. MCXENERGY is trading down by 9.13 points, or 0.32%, at 2,801.84 after opening at 2,806.50. MCXAGRI is trading up 0.89 points, or 0.03%, at 2,886.56 after opening at 2,885.97.

Spot gold prices declined 0.7% to $1,815.16 an ounce on the Comex division of the New York Mercantile Exchange. Copper futures for December delivery slipped 0.05% to $4.115 per lb on the Comex metals division of the New York Mercantile Exchange. Benchmark crude for October delivery rose 11 cents to $85.48 a barrel on the New York Mercantile Exchange. In London, Brent crude for October delivery eased 0.45 cents to $110.91 a barrel on the ICE Futures exchange.

• NYMEX crude rose 3.8% last week marking its first gain in five weeks. 
• Crude oil rose last week amid rally in US equity markets and weakness in the US dollar. 
• Crude oil speculators raised net long position for the first time in four weeks. 
• NYMEX natural gas fell 0.2% last week marking its second weekly decline. 
• Natural gas fell last week amid mild weather forecasts and lack of storm threat.
• Natural gas speculators raised net short position for the fourth consecutive week.

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MCX Commodity Market Updates Today | MCX Gold Tips

The Multi Commodity Exchange (MCX), COMDEX is trading up by 4.73 points, or 0.13%, at 3,523.11 after opening at 3,519.74. MCX METAL is trading upward by 5.50 points, or 0.11%, at 5,044.58 after opening at 5,042.64. MCX ENERGY is trading up 2.04 points, or 0.08%, at 2,694.57 after opening at 2,679.99. MCX AGRI is trading up 9.55 points, or 0.34%, at 2,841.90 after opening at 2,833.62.

• Base Metals may continue to be under pressure as global outlook remains bleak.
• Copper prices furthered the gaining momentum on Monday.
• Aluminium, Nickel and Lead too fell tracking weakness in Copper prices.
• Zinc prices however managed to end with modest gains at $2193 a ton.
• Crude oil futures declined 3.7% last week to $82.26per barrel.
• NYMEX crude fell 3.7% last week marking its fourth weekly decline.
• NYMEX natural gas fell 3% last week marking its fourth weekly decline in five weeks.

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