Commodity Weekly News, 8th - 12th Oct.

MCX GOLD Technical Trend
MCX GOLD DEC last week showed downtrend it moves in a downward channel pattern, took support around the psychological level of 31000 we expect if it break this level than it may find next support around lower band of channel i.e. 30650. Breakout of channel pattern is expected above 31350 after that next resistance is seen around 31650.

Strategy

Better strategy in the MCX GOLD is to sell below 31000 for the target of 30650-30450, with stop loss of 31500.

MCX SILVER Technical Trend

MCX Silver last week showed down trend it took strong resistance of trend line from high of this contract now if it able to break 62600 on higher level than the breakout of trend line is expected. On other hand if this down trend continuous than it will find next support around 60500 below this it is too weak towards level of 59000.

Strategy

Better strategy in MCX SILVER at this point of time is to buy above 62600 for the target of 63800-64700, with stop loss of 61000.

MCX CRUDE OIL Technical Trend

Crude  oil last week showed downtrend on weekly charts it broke trendline and gave closing below this. Now we expect this down trend is continuous if it able to break crucial support of 4570 below this it may find support around 4450. Some correction is expected only if it able to give closing above 4765.

Strategy

Better strategy in MCX CRUDEOIL is to sell on highs, for the targets of 4570 with stop loss of 4825.

MCX Copper Technical Trend

MCX Copper last week showed downward trend on weekly chart it moves in an upward channel pattern and found strong support around 430 if it able to break this support than this week it may touch lower band of channel i.e. around 420. On daily charts it found strong resistance of 442 only above this correction is expected.

Strategy

Better strategy in the MCX COPPER will be sell below 432, with the stop loss of 442 for the target of 420.

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Best Commodity Intraday Tips For Today 10 oct. 2012

Gold Prices are expected to trade positive and are likely to witness 31450 31500, one can buy on dips around 31280. Oscillators suggest prices are expected to trade higher.

Silver Prices are expected to trade higher for the day one can maintain a stop loss below 61000 and enter long.

You can sell mcx novem Copper between 445/450 sl 466 tgt 420/415

Can Buy mcx Aluminum between 106/107 sl 99 tgt 117/120

Also Buy mcx nickel 915/925 sl 875 tgt 980/990

Buy mcx lead 109/110 sl 101 tgt 122/125

Buy mcx Zinc 104/105 sl 98 tgt 115/118

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Weekly Commodity News : from 24-28 sept.

MCX GOLD Technical Trend
     MCX GOLD on its weekly chart forms an upward channel pattern and last week gave closing below the upper band of channel, now some correction is expected below 31450 and may find next support around 31150. On other hand if it gives closing above 31750 than this bull rally continuous and may break resistance level of 32100 above this we expect it makes new highs.

Strategy
Better strategy in the MCX GOLD is to sell below 31450. For the target of 31100, with stop loss of 31850.

MCX SILVER Technical Trend
      MCX SILVER last week showed sideways movement and consolidated around the upper band of channel. Now 62500 is act as strong support for it below this it is weak towards level of 61400-60500. On higher level 64850 is act as resistance for it if able to break this resistance than it may find next resistance around level of 65750-67000.

Strategy
    Better strategy in the MCX SILVER at this point of time is to buy above 64850. For the target of 65750-67500, with stop loss of 62500.

MCX CRUDEOIL Technical Trend
     Crude  oil last week broke upward channel pattern and showed downward trend now 4950 is act as strong support for it below this it may find next support around level of 4820. On higher level 5060 is act as resistance for it only above this some correction is expected towards level of 5180.

Strategy
      Better strategy in MCX CRUDEOIL is to sell on highs, for the targets of 4820.  With stop loss of 5120.

MCX Copper Technical Trend
     MCX Copper last week broke strong support of 448 and gaves closing below this now if it break level of 445 which is its 38.2% retracement than it may find next support around 50% retracement i.e. around 440 below this it is too weak. On other hand correction is expected only above 452.50.

Strategy
     Better strategy in the MCX COPPER will be sell below 445, with the stop loss of 456 for the targets of 436.

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