25-03-13 bullion-base metal and crude oil updates for Evening trading session and free commodity tips

India is going to reduce crude oil import by more than 50% by 2020 said by minister of petroleum and gas Dr. M Veerappa Moliy. India crude production house in increase day by day and it is good news for domestic market. It is expected that India become self independent by 2030 I crude and gas. Today on MCX crude oil for open at 5115 slightly high from its last close. On intraday it touches a high of 5129 some more increment is expected in evening trading session. Mcx crude oil price have a support level of 5090 with a resistance level of 5170.

Buy crude oil above 5125 tgt 5135, 5145, 5160…………..sl 5090

Cyprus data raised the foreign share market but its causes in negative mark at Indian commodity market. Both gold and silver are trading on negative side .Mcx bullion are trading bearish today, form morning no positive movement had seen in yellow metal. On early morning it opens at 29680 with a same intraday high and low of 29542. Gold for 5 April delivery falling by more than -150 point on Mcx. some correction are expecting in evening time. Mcx silver open bit positive and moving towards green side but due to lower support level it falling down in red side. Mcx silver for may delivery on intraday touches a high of 54249 with a low of 54030.

Sell gold below 29540 tgt 29510, 29460, 29440…….sl 29640

Sell silver below 54050 tgt 54000, 53950, 53850…………54250

MCX Base metal are traded low from negative, mcx copper for April delivery open at 419 ,on intraday it touches a high  of 419.25 with a low of  415.90. It is expected to go more deep with a support of negative side. Zinc, lead and aluminum are expected to fall more down on MCX. Nickel is bearish on Mcx for 28 march.

Sell nickel below 924 tgt 922, 920, 915…………sl 933

Sell copper below 417 tgt 415, 413, 411…….sl 423

Mcx Commodity call for today

Buy cotton above 18300 tgt 18330, 18350, 18380…………..sl 18220

Sell mentha oil below 1080 tgt 1078, 1075-----…………….. 1130

commodity movement in upcoming week and mcx report

Bullion

In recent week MCX gold and silver showing a different colors form the starting of the week. This week gold for April delivery open at 29374 with a strong support level. On Monday a huge increment had seen on MCX. In upcoming week positive shade is expected from gold in global as domestic market. Mcx silver is on fire this week on the early trading, it started with a level of 54980, but on Friday depreciation had seen for may contract. On Saturday at 11.02 am silver prices had seen at 54194 some analyst had think that in upcoming week silver prices ready to touch a sky. Let’s see what happen in upcoming week.

Buy silver above 54400 with a support level of 53500 and a resistance of 55000

Buy gold above 29450 with a support level of 29210 and a resistance of 29630

Crude oil

This week crude oil shows some good jump above 5000 as expected form that on MCX. On MCX crude oil, some more correction are expecting due to increment in Russia and New York.  On Friday New York crude prices moves up by 0.2% similarly Russia also shows positive report in crude and natural gas. In upcoming week crude oil go more up with a mixed movement on MCX for 19 March delivery.

Buy crude oil 5050 with a support level of 4990 and a resistance of 5090

Base metal

Base metal in upcoming week expected to show some correction, especially nickel. This week nickel performs badly and no hike had seen in it. This week nickel prices are falling from starting of week. Copper on LME showing a mixed movement in ongoing week no high movement had seen in copper.  Aluminum, zinc and lead show bit positive movement on early on week. In upcoming week all these metals are expected to work on negative side. US jobless data and European data trying to recover to due to lower demand this metal show mixed reaction.

Mentha oil and cotton

This week cotton is the top gainer who fire on MCX market on Friday by moving more than +300 point for 29 March. In recent week cotton started with the prices of 18440 and crosses the line of 19000 and in upcoming week expected more rise on it.  MCX cotton for 29 March perform well and advice to hold position and wait for the right price.

This week MCX mentha oil not performs in right direction and drop from its position.  Mentha oil prices are watched around 1240 in early of week but mentha oil can’t hold the position and fall down. But this week negative data is worthless and some correction might be happen in upcoming week.

Buy cotton above 18900 with a support level of 18600 and a resistance of 19200

Buy mentha oil above 1200 with a support level of 1170 and a resistance of 1230.

Natural gas performs well in this week and on Saturday at 11.54 it watched at 209.10, and expected more hike due to positive data in natural gas form Russian market.

Buy natural gas above 210 with support level of 205 and a resistance of 216.