Wednesday, March 28, 2012

Live Commodity Tips For 28 March 2012

MCX Crude Oil
Crude oil can trade with mixed bias. Crude Oil prices can trade in range of 5469-5601.

MCX Gold
Gold futures may continue its upside momentum and can test 28610 and Silver 58750 in near term but a little profit booking at higher level cannot be denied.The base metals may trade with positive bias with few profit booking at higher levels in Copper can be seen.

MCX Copper
Copper may trade in range of 437.45-446.58 while Lead may trade in range of 103.25-105.89

Nickel
MCX Nickel for today's session market is looking to take support at 928, a break below might see a test of 921.5 and anywhere as resistance is now likely to be seen at 943.4, a move above could see prices testing 950.48.

Zinc
For today's session market is looking to take support at 103.43, a break below could see a test of 102.7 and where as resistance is now likely to be seen at 104.3, a move above could see prices testing 105.7.

Silver
Technically, now market is trading in the range as RSI for 18days is currently indicating 49.58, where as 50DMA is at 58488 and Silver is trading below the same and getting support at 57304 and below could see a test of 56587 level, And resistance is now likely to be seen at 58944, a move above could see prices testing 58987.
Trading Ideas:
Silver trading range for the day is 56817-58987.

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