Crude oil in the global market is hold a strong position in the last week, but starting of the crude this week is not very high the movement is very low in the global market, where as on the Saturday close MCX crude oil for January contract is closed on the red side. Currently on the fresh morning MCX crude is open with down side flag by 3 point to its last close at 5123. Its current price is 5114 at 10:33 am, on the MCX for 21 Jan contract. Crude oil is traded with the red flag down by 10 point, movement is not very excited in the early trade but expected to go high in the next session.
If we go towards the bullion its movement is looking positive today, gold is moving towards to touch a line of 31000 for 5 February contract where as white metal is 59000. Today bullion has a very good support for gold support level is 30680 and a resistance of 31402 , meanwhile silver is looking volatile the movement is unexpected today support level for is 57300 and a resistance of 58800. Both the commodity are open high to its last close gold is open 57 point high to its previous close at 30907 and silver is open at 58200 214 point high to its last close.
Today the movement of cotton gives some warm in the cold day, after the last worst week cotton is traded positive to its opening at 16350. Currently cotton is on the green side but the movement is not expected to more green. Cotton is expected to trade low day and trading between 16250- 16480.
Today calls
Sell crude oil (21 jan) below 5115 tgt 5105, 5090, ………….sl 5150
Sell cotton (31 jan) below 16360 tgt 16340, 16320…………..sl 16420
Buy silver (5 mar) above 58250 tgt 58300, 58400, 58500……sl 57900
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