Thursday, February 16, 2012

Best MCX Commodity Tips For 16 Feb 2012

MCX copper prices have whipsawed its way above Rs 435 but its incapability to break through the resistance around Rs 445 brings the possibility of a price decline to the frontage. Exactly, Prices seem to respect the resistance level around Rs 447. Support is seen at Rs 421 and a break below Rs 400 could initially target Rs 395 and then Rs 340, provided basics are negative for the metal.

For CRUDE (FEB) the trend is sideways consider resistance at 5011-5036 and support range at 4910. Decline to buy and sell on strength to be followed.

NATURAL GAS (FEB) Sell on rise strategy and higher-level 151-162 to watch out.The downside support 131-123, thereafter further weakness.

NICKEL (FEB)
Downside last and final support at 1320. Today Sell on rise below 1135 bear favor.

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