Monday, April 16, 2012

MCX Silver Copper Commodity Tips and Outlook For Today

SILVER (May)
After constant decline for some weeks, few buying was seen and it made a high of 57397 and closes at t nearly to 55912. For this week, consider reliable trade above 57310 will be required to push prices higher level up to 58300 +. On the whole, it continue struggle with 50 and 200 DMA and placed at 56770-57898 respectively. Trend decider of this week - 56248 and key level 56843.

COPPER (APRIL)
For the last few weeks, after facing a tremendous resistance at 444.78 and not able to cross, it finally broke down strong support level 429.43 and made a low of 412.56. As long as trades below 429.87-432.56, bearishness to continue and lower level target 406-399-389.67 in the near term. Trend decider of this week – 420.67 and key level 439.56.

CRUDE (APRIL)
The whole small trading range for the last two weeks, which is placed at 5356 to 5200. For this week consider support range of 5260-5278, bears may push prices below this price again, a higher side resistance at 5395-5457 to watch out. Trend decider of this week – 5285.78, key level 5219. Sell on rise approach.

NICKEL (APRIL)
In the previous week it rallied from the low of 924.67 and lastly made a high of 957.73, which is a near-term hurdle. On the other hand, downside strong support range 921.45-934.79 and buying in small lots is advisable. Higher-level resistance at 966-969.17... Trend decider of this week – 944.68, key level 930.78.

NATURAL GAS (APRIL)
Sell on rise strategy is a finest way as long as continues to trade below 111.56 ranges. In last week, bulls failed to move 111.45-116.78 range and made a low of 101.40, which is nearly a strong support 101.56 mark. Weekly close below 101, more open short side. Trading in all time low.

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