Wednesday, March 21, 2012

Commodity Trading Tips and Outlook For 21 March 2012

Gold
For today MCX Gold consider higher level resistance 28390-28311 watch out and support at 28210 in the near term and Short-term trend is bullish

Crude Oil
Today it looks very hot and as long as hold 5341.13 with positive bias. Consider resistance 5460.12-5481 .12to watch out.MCX Crude Oil falls, resistance at Rs.5374.12-5391.12.MCX Crude Oil rises, resistance at Rs.5413-5452

NATURAL GAS (MARCH)
The Higher level selling pressure continues for this commodity and at a halt lower level likely in the short term.TODAY: Some support at lower level... above 111.10, up-move likely to continue.
Copper
MCX copper falls, resistance at Rs.447.20-449.55.MCX Copper slumps, resistance at Rs.450.80-446.45.MCX Copper gains, resistance at Rs.443-455

NICKEL (MARCH)
Bulls and Bears keep on to fight for this and overall higher level, few selling pressure to continue with considering resistance at 991.12 and support at 941.45.Once break this level fresh wave of selling on the card.For today Sell on rise and as long as below 980.MCX Nickel edges higher, resistance at Rs.939-941.12

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