Monday, January 23, 2012

MCX Commodity Trading Tips For Today

Commodity Tips For Today:

COPPER

The Copper continuously showing its strength and it was traded above 400 and made a high 427.23.The Overall trend is bullish and any dip to play for long side with tight stop loss.

ALUMINUM

Certain support at lower level and overall trend is positive looking to add in extensive open interest in the last week. The Support range may consider at 109.12-111 and resistance 112.

ZINC

In the zinc trend is sideways and waits for direction in either side. The Trading range is 98.87 to 104.12 and any respect of range once side can move in coming days.

CRUDE

In the previous week, below 5301 does not hold any long position and it made a low 4963.12. Resistance may be considered 5275.15-5301 and trend decider of this week is 5046.23 but the more selling pressure once it will break 4902 level.

GOLD: (Feb 2012)

In the last week it was unable to cross 27800-28000 showing the some selling pressure at higher level. Sell on rise the target - 25000+

SILVER (March 2012)
As mentioned last week, strong support 52000 and once crossover 53900-54200 and simply moves up to 56100 and it made a high 55879. At existing level any dip for buying opportunity consider support level at 55000-53800 and resistance 58380.

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