Mcx gold, silver and base metal tips for 31/10/2014

Mcx commodity market is trading down side from the morning , Both precious metal traded down more than 2% .MCX GOLD December contract was trading at Rs 26100down Rs 488, or 1.89%. Mcx gold touched intraday high of 26590 and intraday lows of 25996. While MCX silver December contract was trading at Rs 35716 down Rs 888, or 2.23%. It touched intraday high of 36431 and the intraday low of 35519. On the other hand, the rupee today strengthened against the dollar, gold and silver prices in mcxmarkets has had a double pressure.

If we talk about base metal continue is in perfect uptrend today, aluminium, copper, zinc, lead and nickel traded upside in eevning session.

Mcx copper sell below 420 target 413 stoploss 423.5

mcx gold sell above 26300 target 25850 stoploss 26425

Thursday copper resistance and support| Gold trend today

In mcx commodity market overall trend of gold and silver is bearish in medium-long term, now gold is trading in oversold level currently gold is strong downtrend. The index is showing sell gold for short term gold is in Sell position.The immediate support for the gold is 26628 and the resistance 27717, 28394.

crude oil is in bearish trend, high selling pressure has seen in crude oil down o.56% or 34 pts at 6078. Crude touched intraday high of 6100 and intraday low of 6055.

Intraday Resistance of COPPER are 416.6 : 418 : 425.2
Intraday Support of COPPER are 413.3 : 411.9 : 404.8