Commodity Weekly News And Strategies from 5th Nov. to 9th Nov. 2012

MCX GOLD 
MCX GOLD last week showed downward trend it moved in a downward channel pattern and found strong support of lower band of channel, now if it able to break support of 30350 than we expect bearish trend in it towards the level of 30000. On other hand if it takes reversal from lower band than resistance is seen around 30850.

Strategy
Better strategy in MCX GOLD is to sell below 30350 for the target of 29800-29400 with stop loss of 30900.

MCX SILVER 
MCX SILVER last week showed downward trend on daily charts it moves in downward channel pattern and found strong support of lower band of channel. Now, if it takes reversal from lower band than some correction is expected in it towards level of 58850 and if downtrend continuous than support is seen around 56000.

Strategy
Better strategy in MCX SILVER at this point of time is to sell below 56800 for the target of 55700-54800, with stop loss of 58400.

MCX CRUDEOIL 
Crude  oil last week showed downward movement and  found strong support of 4600 which is also its crucial point since last four weeks it was not able to break it, below this it will be in weak zone and may find next support around 4500. On other hand in this week if it is not able to break it than resistance is seen around 4725.

Strategy
Better strategy in MCX CRUDEOIL is to sell below 4600, for the target of 4500 with stop loss of 4715.

MCX Copper
MCX Copper last week showed downward movement on weekly charts it moves in an upward channel pattern and found support around lower band of channel. Now if it breaks support of 414 than find next support around 409 below this breakout of channel pattern is expected. On higher level it will find resistance around 425.

Strategy
Better strategy in the MCX COPPER will be sell below 414, with the stop loss of 425 for the target of 407-400.

Read More

Commodity New for Today 02 oct. 12

Gold prices are expected to witness a sideways to downward trend one can sell on rise around 31000 -31050 with a stop loss above 31170 for the downside target at 30800 -30750.

Silver prices witnessing selling pressure from higher end we expect prices to test the support at 59400 -59300. For the day we expect prices to trade within a range from 59000 to 60200. Intraday one can sell with a stop loss above 60350.

Copper prices are expected to trade within the range from 418 to 426, one can trade with a positive bias as oscillators are at the oversold zone.

Nickel prices are witnessing pressure at higher end one can expect prices to trade within the range from 865 to 895. One can trade within the range.

Lead was the strongest among the base metal pack. We expect price to cool off around 116, one can expect a support around 113.50 on lower end. Buy on dips is recommended.

Crude price are expected to trade within the range from 4620 to 4740, one can trade within the range with a side ways to positive bias. Support is building up at 4620.

Read More

Commodity Weakly News and Updates

MCX GOLD 
MCX GOLD last week showed upward trend it moves in a downward channel pattern and faced strong resistance of upper band of channel, now if it able to break resistance of 31520 than we expect bull trend in it towards the level of 31750. On other hand if it breaks psychological support of 31000 than it may find next support around 30750.

Strategy
Better strategy in MCX GOLD is to buy above 31520 for the target of 31750-32000 with stop loss of 31000.

MCX SILVER
MCX SILVER last week showed down trend and moves in channel pattern on daily chart. Now 59350 is seen as immediate support for it below this it may touch lower band of channel i.e. around 58500. On higher level 61050 is act as resistance for it only above this we expect some correction in it.

Strategy
Better strategy in MCX SILVER at this point of time is to sell below 59600 for the target of 58500-58000, with stop loss of 61100.


MCX Copper 
MCX Copper last week showed sideways movement consolidates around its strong support, and form head and sholder pattern if it breaks support of 431 than it will be in weak zone towards level of 420. On higher level if it give closing above 445 than some correction is expected in it.

Strategy
Better strategy in the MCX COPPER will be sell below 432, with the stop loss of 445 for the target of 420.


MCX CRUDEOIL 
Crude  oil last week broke strong resistance of 5010 but not able to closed above this and form a reversal pattern on daily charts, now if it take reversal from here than it may find strong  support around 4800 below this it is weak towards level of 4600. Correction is expected only if it able to give closing above 5010.

Strategy
Better strategy in MCX CRUDEOIL is to sell on highs, for the targets of 4800 with stop loss of 5050.

Read More

Commodity News For Today 9th oct 12

MCX Gold December Contract is looking slightly negative for the day. Market may find support near 31200 & 31090; intraday resistance can be seen near 31330 & 31420. Day traders are advised to sell intraday on rise. (Sell around 31330 with SL 31420, for the target of 31200 & 31090.)

MCX Silver December Contract is looking slightly negative for the day. Market may find support near 61200 & 60700; intraday resistance can be seen near 61700 & 62200. Day traders are advised to sell intraday on rise (Sell around 61700 with SL 62200, for the target of 61200 & 60700.)

MCX Natural Gas October contract is looking slightly positive for the day. Market may find support near 178 & 175 intraday resistance can be seen near 182 & 185 Day traders are advised to buy intraday on dips. (Buy around 178 with SL 175 for the target of 182 & 185.)

MCX Crude Oil October contract is looking slightly negative for the day. Market may find support near 4670 & 4620; intraday resistance can be seen near 4730 & 4790. Day traders are advised to sell intraday on rise. (Sell around 4730 with SL 4790, for the target of 4670 & 4620.)

MCX Copper November contract is looking slightly negative for the day. Market may find support near 431 & 428; intraday resistance can be seen near 434 & 437. Day traders are advised to sell intraday on rise. (Sell around 434 with SL 437, for the target of 431 & 428.)

MCX Nickel October contract is looking slightly negative for the day. Market may find support near 942, 932; intraday resistance can be seen near 955 & 964. Day traders are advised to sell intraday on rise. (Sell around 955 with SL 964, for the target of 942 & 932.)

Read More