MCX Gold & Silver Tips & other Commodity news today

MCX Gold & Silver futures may remain sideways. Gold prices held record high on Tuesday. MCX silver prices remain very up and down in intraday bases. That's why traders are adopting a wait-and-watch policy before investing in silver. Base metals prices opening higher on today. MCX Copper prices are very affected by risks in global copper supply. Fall in demand from consuming industries in the spot market may put some pressure on Zinc futures prices. Crude oil prices may remain sideways. US crude futures fell below USD 99 a barrel on Tuesday. Natural gas futures may remain downside. High natural-gas production is still limiting the upside for futures in the international market.

MCX Copper August  

Support: Rs 428 

Resistance: Rs 440

MCX Aluminium July 

Support: Rs 114 

Resistance: Rs 117

MCX Zinc July

Support: Rs 108 

Resistance: Rs 112

MCX Nickel July

Support: Rs 1,045 

Resistance: Rs 1,085

MCX Lead July

Support: Rs 118

Resistance: Rs 122

Continue reading →

MCX Trading Tips and news for today 27 May 2011

Crude Oil fell back on Thursday as disappointing U.S. economic data and renewed euro-zone debt worries stoked fresh oil demand concerns. Gold fell on Thursday, led by a fall in euro-priced bullion and after the single European currency came under sudden pressure, but concern about the euro zone debt crisis was expected kept metal prices supported. Copper eased on Thursday amid lingering concerns over weaker Chinese demand, disappointing U.S. economic data and as Greek fiscal woes weakened the euro.

GOLD KNOCKED OFF 3-WEEK PEAK BY SAGGING SILVER.

OIL FALLS AFTER REACHING HIGHEST PRICE IN TWO WEEKS ON U.S. FUEL DEMAND.

COPPER SLIPS DUE TO DEMAND CONCERNS.

DOMESTIC OIL SEED AND EDIBLE OIL TRADE MOSTLY DOWN.

Continue reading →

MCX Basemetals Trading tips | Crude oil report

Base Metals Updates

Base Metals huge ups - and downs is visible. After the initial strength Metals is dowing, including copper. 1.5 per cent fall in nickel. due to rising inflation pressure is visible in China .

 MCX Bullion updates

Silver and gold in today's rapidly returned. COMEX across the gold and silver of $ 1520 has reached out to $ 39. Silver in the domestic market is trading close to Rs 60,000. Greece debt problems and increasing crude oil prices due to the trend of investors to precious metals is increasing again.

 Crude Oil report

 Political struggles in the Middle Eastern and North African countries have eaten into crude oil production and have resulted in a fall in Organization of Petroleum Exporting Countries (OPEC) crude oil output to 28.84 million barrels per day from the previous 29.17 million b/d during the month of April, showed a survey by Platte.
 

Continue reading →

MCX Commodity market news and trading tips

At the Multi Commodity Exchange (MCX), COMDEX started on a positive terrain after a rise of 3.13 points, or 0.09% on Saturday. It is currently trading higher by 9.39 points, or 0.28%, at 3,397.05 after opening at 3,389.07.
Other index like MCXMETAL is trading upward by 48.70 points, or 1.10%, at 4,469.84 after opening at 4,424.81. Meanwhile MCXENERGY is trading up 35.27 points, or 1.12%, at 3,175.83 after opening at 3,146.77. MCXAGRI is trading up 8.58 points, or 0.34%, at 2,500.98 after opening at 2,494.97.
Due to dollar weakness in the silver business is over Rs 56,000. In today's fast enough to return after taking silver slammed have seen. After early weakness in gold has picked up momentum. Rs 22,000 per 10 grams on MCX gold cross. Silver Rs 1200 to Rs 56,000 strong pass up. Firmly in the international market of crude oil remains above 1.5 percent. Due to strong demand for pepper is trading above 2.75 per cent. Cardamom is the same strength of 2 per cent

Continue reading →

MCX Trading Tips and commodity market report for today 05 may 2011

GOLD MCX (JUNE)
R2: 22550
R1: 22300
S1: 21900
S2: 21750
Trend: Consolidate
Strategy: Buy on dips

SILVER MCX (JULY)

R2: 63500
R1: 61365
S1: 59170
S2: 57780
Trend: Consolidate
Strategy: Buy on dips

COPPER MCX (JUNE)

R2: 428
R1: 420
S1: 408
S2: 400
Trend: Consolidate
Strategy: Buy on dips

ALUMINIUM MCX (MAY)

R2: 125.50
R1: 123
S1: 121.50
S2: 119.30
Trend: Bullish
Strategy: Buy on dips

LEAD MCX (MAY)

R2: 115.30
R1: 112.50
S1: 109.50
S2: 106.80
Trend: Consolidate
Strategy: Buy on dips

NICKEL MCX (MAY)

R2: 1219
R1: 1185
S1: 1145
S2: 1112
Trend: Consolidate
Strategy: Sell on high

CRUDE OIL MCX (MAY)

R2: 5020
R1: 4940
S1: 4830
S2: 4760
Trend: Consolidate
Strategy: Buy on dips

NATURAL GAS MCX (MAY)

R2: 222
R1: 215
S1: 201
S2: 192
Trend: Consolidate
Strategy: Buy on dips

Continue reading →

MCX Trading Tips>>Crude Oil Prices Recover As Mid East Tension Brews Up Again

MCX Tips

Crude prices recovered on Wednesday after witnessing a sharp fall in previous session, though the trade remained volatile as Middle East unrest came on the forefront again after violent clashes in Bahrain and Yemen, near the top oil producer Saudi Arabia. Also, mounting concern over Japan's nuclear crisis and weak equities too weighed and limited the rise.

Meanwhile, US Energy Information Administration (EIA) showed gasoline stockpiles fell 4.17 million barrels last week. Distillate stocks also dropped more than expected, lifting US heating oil futures, while crude stockpiles increased more than expected.

Benchmark crude for April rose 80 cents, or 0.8 percent, to settle at $97.98 a barrel, after trading in a range from $96.22 to $99.60 on the New York Mercantile Exchange. In London, Expiring ICE Brent crude for April rose $2.10, or 1.94 percent, to settle at $110.62 a barrel on the ICE.

Continue reading →

MCX Trading Tips>>Mentha Oil Future Trade In Green On MCX

MCX Tips

Low arrivals amidst some rise in demand supported the prices of Mentha Oil futures. The commodity was also trading high since Stockists were reportedly unwilling to sell at these low levels in the mandis and that affected the arrivals to some extent

The contract for March delivery was trading at Rs 1136.90, up by 0.52% or Rs 5.90 from its previous closing of Rs 1131.00. The open interest of the contract stood at 6114 lots.

The contract for April delivery was trading at Rs 1071.50, up by 0.61 % or Rs 6.50 from its previous closing of Rs 1065.00. The open interest of the contract stood at 1044 lots.

Continue reading →

Commodity MCX Energy (Crude oil, Natural Gas) Report

CRUDEmcxMAR

Technical Levels
R3	4900
R2	4860/4880
R1	4790/4835
Pivot	4720
S1	4670/630
S2	4590/4540
S3	4480

  Technical Commentary:

If unable to cross above 4790-4800 day’s bias would be range bound with largely negative bias, and such moves may take prices towards 4710/4668 later. A direct rise above 4810 would be a strong bullish signal towards 4850/4920 levels.

Trends:

Intraday--> Consolidate

Near term--> Up

NAT. GASmcxMAR

Technical Levels
R3	190
R2	184/186
R1	181
Pivot	177.50
S1	176
S2	174/171
S3	168/164

Technical Commentary:

While 174/71 holds expect to move higher towards 181/185. We favour bearishness only a cross below the strong support 169.

Trends:

Intraday--> Up

Near term-->Down

Continue reading →

MCX tips>>Crude oil futures end bullish with modest gains

Crude oil futures ended on a bullish note towards the end of Multi Commodity Exchange (MCX) Saturday session taking global cues. NYMEX crude oil traded higher throughout the week hitting record high above USD 104/ barrel as unrest continued to soar in Libya.   

 

March crude oil at New York Mercantile Exchange (NYMEX) ended at USD 104.91 [+3.00] a barrel.

MCX crude oil March contract ended at Rs 4,732 [+34.00] a barrel. Far month contracts April and May contracts settled at Rs 4,809 [+39.00] and at Rs 4,862 [+38.00] a barrel respectively. 

Continue reading →

Oil rises near USD 100 after surprise US supply drop

Oil prices rose to near USD 100 a barrel on Wednesday in Asia as a report showed U.S. crude and gasoline supplies unexpectedly dropped last week, suggesting demand may be improving.

Benchmark crude for April delivery was up 27 cents at USD 99.90 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose USD 2.66 to settle at USD 99.63 on Tuesday.

In London, Brent crude for April delivery was down 9 cents to USD 115.33 a barrel on the ICE Futures exchange. In other Nymex trading in April contracts, heating oil rose 0.7 cents to USD 3.03 a gallon, and gasoline gained 1.4 cents to USD 3.00 a gallon. Natural gas futures were down 0.1 cent at USD 3.86 per 1,000 cubic feet.

Continue reading →

Oil hovers above USD 97 as traders eye Libya supplies

Oil prices hovered above USD 97 a barrel Friday but were far from highs over USD 103 the day before amid signs the crisis in Libya may have cut supplies less than previously estimated and as Saudi Arabia seemed ready to boost output.


By early afternoon in Europe, benchmark crude for April delivery was up 42 cents at USD 97.70 a barrel in electronic trading on the New York Mercantile Exchange. Trading was volatile between USD 96.39 and USD 99.20. The contract on Thursday dropped 82 cents to settle at USD 97.28 after massive swings.


In London, Brent crude for April delivery was up 86 cents to USD 112.22 a barrel on the ICE Futures exchange, peaking earlier at USD 113.91.


In other Nymex trading in March contracts, heating oil rose 1.32 cents to USD 2.8905 a gallon and gasoline gained 0.53 cent to USD 2.722 a gallon. Natural gas futures were down 2.4 cents at USD 3.848 per 1,000 cubic feet.

Continue reading →