MCX Gold, Silver, Crude Oil, Copper updates
An Upward movement in the commodity market has been been observed on Friday's trading hours. The most important commodity of the mcx market, MCX Crude oil, gained a marginal hike of around .25% and managed to stuck at the level of Rupees 4530.
U.S. Federal Reserve deferred by long-term bond sales for the year. Analysts said that U.S. companies are in no better shape. Deterioration of the situation in Europe as well as demand-supply gap is increasing the pressure on the crude oil.Meanwhile, in China's industrial production figures are disappointing in consecutive Meanwhile, in China's industrial production figures are disappointing consecutive 8th month.
MCX Gold with a 0.35 per cent up managed to reach at Rs 29,950 per 10 grams while MCX Silver with 0.1 per cent up met the level of Rs 52,960 per Kg. Both precious metal commodities traded with strength.
Today we saw a pressure in the mcx base metals.But aluminum has risen nearly 0.5 per cent to touch the Rs 105 and strong.However the nickel and zinc declined by 0.5 per cent , while copper and lead faced a marginal decline.
Trading Tips For 23 June 2012
MCX Gold Sell below 29930, Stop loss 30020, Target 29840.
Sell MCX Silver below 52800, Stop loss 53100, Target 52500.
MCX Copper Sell at 414, Stop loss 415.50, Target 412.50.
Sell MCX Crude Oil below 4515, Stop loss 4540, Target 4480.
MCX lead Updates Sell at 103.50, Stop loss 103.90, Target 103.10.
An Upward movement in the commodity market has been been observed on Friday's trading hours. The most important commodity of the mcx market, MCX Crude oil, gained a marginal hike of around .25% and managed to stuck at the level of Rupees 4530.
U.S. Federal Reserve deferred by long-term bond sales for the year. Analysts said that U.S. companies are in no better shape. Deterioration of the situation in Europe as well as demand-supply gap is increasing the pressure on the crude oil.Meanwhile, in China's industrial production figures are disappointing in consecutive Meanwhile, in China's industrial production figures are disappointing consecutive 8th month.
MCX Gold with a 0.35 per cent up managed to reach at Rs 29,950 per 10 grams while MCX Silver with 0.1 per cent up met the level of Rs 52,960 per Kg. Both precious metal commodities traded with strength.
Today we saw a pressure in the mcx base metals.But aluminum has risen nearly 0.5 per cent to touch the Rs 105 and strong.However the nickel and zinc declined by 0.5 per cent , while copper and lead faced a marginal decline.
Trading Tips For 23 June 2012
MCX Gold Sell below 29930, Stop loss 30020, Target 29840.
Sell MCX Silver below 52800, Stop loss 53100, Target 52500.
MCX Copper Sell at 414, Stop loss 415.50, Target 412.50.
Sell MCX Crude Oil below 4515, Stop loss 4540, Target 4480.
MCX lead Updates Sell at 103.50, Stop loss 103.90, Target 103.10.