MCX Market Outlook & MCX Tips for today 03 July 2012
MCX Gold & Silver Trend Updates:- MCX
Gold and silver are trading extremely low in the commodity market.
The noticable thing about rural areas in India is that the rainfall
this year is very low as compared to last year. Majority of gold is
bought by the people from these areas. Due to low rainfall what will
be the situation for the demand will remain a big question for the
market. Due to these all factors the mcx gold is under high
pressure.With
0.2 per cent currently on MCX gold is trading at Rs 29,720.MCX Silver
is trading at Rs 52,140 with strength of 0.3%.
MCX
Crude Oil Trend & Updates:- The
consistent up in the crude oil has suddenly gone up. In today's trade
the crude oil has traded at the lower level.Last week the crude oil
just picked up the hike because of the market news. No technical
signals were there for these up trend of base metals.
MCX
Crude oil is trading with some moderate losses in the market. It is
trading with a fall of around 1 percent.At mcx the crude oil is
trading at 4650 while in the Intrenational market is has touched a
low level with a down fall of 1.5-2 percent.China
has been a sharp fall in export orders. The noticable thing is that
the Norwegian oil companies are still on strike. Supply of crude oil
from Iran has been banned by European Union which will be effective
from today.
Other
Base Metal Trend & Updates:-
MCX Trading Tips for Today
03 July 2012
MCX Crude oil (August futures): Buy - 4620, stoploss of Rs - 4580 and
the target - 4700
MCX gold (August futures): Sell - 29800, stoploss of Rs - 30000 and target – 29670
MCX gold (August futures): Sell - 29800, stoploss of Rs - 30000 and target – 29670
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