MCX gold fall by for than 3%, mcx cotton,crude and silver trying to recover

Gold prices continue their negative movement and fall form morning, in morning it go bit high and touch an intraday high of 29604 where as on downside it touches a low of 29532 for April delivery. Mcx gold for March delivery drops by more than 3%. In the overseas market gold playing above $1600 an ounce, due to increase in import duty demand in gold has reduced.  Mcx silver falls by more than -200 point from its opening price. Today on early morning it open at 54036 and form that position it continue falling and touches an intraday low of 53860.

Some correction may be seen on evening after 6:00 pm. Today gold is expected to trade with a support of 29460 and a resistance of 29658.

Today Silver expected to trade with a support level of 53680 and resistance of 54475.

Natural gas for 25 April in future traded low with a mixed movement.  On intraday it touches a high of 224.40 whereas on downside it touches a low of 221.50. On domestic market natural gas this week are expecting a bearish trend while so such high movement had seen in natural gas so far compare to previous year.  

Today in commodity market mcx cotton open at very high position of 19000 but showing a dull movement. On intraday a long jump might be seen on evening trading session. 

  

Today recommendation

Buy cotton above 18650 tgt 18680, 18720, 18800………….sl 18400

Buy crude oil above 5260 tgt 5270, 5280, 5290…….sl 5230

Buy silver above 53700 tgt  53800,53900, 54000 ………sl 53400

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Evening commodity gold|silver|copper|crude updates

Mcx

Bullion

Today Multi commodity exchange showing a mixed movement, in the early morning not a very high movement had seen in bullion.  Gold on spot market mostly traded on green side with a small sloppy movement. Today gold touch a upper limit of 29418 with a low of 29353. On MCX silver is looking on bearish side, no such high movement had seen on the morning session.  

Base metal

If we are moving on base metal all metal are open towards green side but as market continue it seen in red negative side. Today nickel opens on good side and on morning touch an intraday high of 910 with a low of 903.60. On MCX nickel losses its good movement this week and mostly time it had seen in red side.  Some positive may be expected in upcoming week. On the other hand copper are also trading on bearish side, copper have strong support level of 424 with a resistance of 429.

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Crude and Mentha oil 

Crude oil import of china has drop down by 9% y/y and in the first 2 month of 2013 it’s down by 1% as compare to its previous year.  Meanwhile its export is rose by 21.8 % year on year.  This will affect the domestic Asian market. On MCX crude oil were traded in down side and touch an intraday low of 4977 with a high of 4995.it is advice to hold the position on medium long term. Mentha oil prices are floating between 1225 and 1245. Today mentha oil mostly watched in wrong side with a low of 1232 and high of 1242.90 and expected more bearish on remaining session.  

Sell gold below 29360 tgt 29330, 29300, 29260…….sl 29460 

Sell silver below 54550 tgt 54500, 54400, 54300…………sl 54800

  

24-01-13 mcx gold-silver-crude-cotton-tips

Gold is on the Red shade from its last close, today it open at 30673 some point down from last trading session. Some unexpected change we will see today on the MCX. Positive movement may be expected after 11:00 am on gold. While in Forex market dollar price is looking strong against Indian currency. That will give some positive movement to gold. Today silver is losing its yesterday position from the opening of market.  On the MCX it open at 59780 and touch anintraday high of 59780 its opening position from that position it’s continue falling from its position and touch a intraday low of 59465.

SELL GOLD FEB BELOW 30670 TARGETS 30647 , 30622 , 30594 STOPLOSS 30713

Sell silver (5 mar) below 59570 tgt 59520, 59470,59400…………

Today cotton looking slightly positive on MCX  for Jan contract and expected to trade in down side.

 Sell cotton below 16330 tgt 16320, 16300, 16280……sl 16410.

Movement in crude continues falling and expected to down more On MCX. Global crude demand is varying on the market that why Asian market and domestic market feeling some falling in the crude price.

Sell crude below 5150 tgt 5140, 5120, 5100…….sl 5200

Mentha oil  today for Jan contract is running with RED flag and expected more red shade as day passes, some positive movement is predict on after 2:00 pm.

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Sell mentha oil below 1293 tgt 1291, 1288,1280………..sl 1345

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