Monday, 12 May 2014
Sunday, 4 May 2014
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MCX GOLD JUNE (CMP – 28,871 / $ 1,299)
MCX Gold June as seen in the weekly chart above has opened the week at 28,980 levels and during this week prices made a high of 29,020 levels. During this week prices could not able sustain on higher levels and in mid of the week prices corrected towards the low of 28,420 levels. In the end of the week as expected prices bounced from the support levels towards 28,889 levels and finally closed 0.12% lower at 28,871 levels. As per the candlestick pattern prices has formed “Hammer candlestick pattern” which is the sign of optimism.
MCX Gold June as seen in the weekly chart above has opened the week at 28,980 levels and during this week prices made a high of 29,020 levels. During this week prices could not able sustain on higher levels and in mid of the week prices corrected towards the low of 28,420 levels. In the end of the week as expected prices bounced from the support levels towards 28,889 levels and finally closed 0.12% lower at 28,871 levels. As per the candlestick pattern prices has formed “Hammer candlestick pattern” which is the sign of optimism.
For the next week we expect gold prices to find support in the range of 28,250 – 28,200 levels. Trading consistently below 28,200 levels would lead towards the strong support at 27,800 levels and then finally towards the major support at 27,200 levels.
Resistance is now observed in the range of 29,200-29,300 levels. Trading consistently above 29,300 levels would lead towards the strong resistance at 29,700 levels, and then finally towards the major resistance at 30,200 levels.
MCX / Spot Gold Trading levels for the week
Trend: Up
S1 – 28,200 / $ 1,270 R1 - 29,300 / $ 1,320
S2 - 27,800 / $ 1,250 R2 - 29,700 / $ 1,340
Weekly Recommendation: Buy MCX Gold June between 28,500 – 28,600, SL- 28,200, Target – 29,200 / 29,300
Saturday, 3 May 2014
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MCX TIPS MCX / Spot Silver Trading levels for the week
Trend: Sideways
S1 - 41,200 / $ 18.80 R1 - 43,500 / $ 20.00
S2 - 40,000 / $ 18.30 R2 - 45,000 / $ 20.60
Free MCX Live Commodity Tips for Today(
opper prices rose by 0.50 per cent on Friday at the domestic markets after an acceleration in US manufacturing in April and the biggest gain in consumer spending in nearly five years in March 2014, signaled an improving outlook for the world’s biggest economy, supporting the demand prospects for the metal.
The gauge measuring US manufacturing rose to 54.9 in April from 53.7 ..MCX live Tips on various resources like Gold, Silver, Copper, Crude oil. Every single suggestion that we make will take you a step ahead in the MCX Commodity Market. Moreover, if you want the MCX Tips to follow you through your entire day, you must make use of our MCX Commodity trading strategies. Our experts have always kept an eye over the MCX Live rates. As the rates swipe through diverse boundaries, we will give a clear overview of how you should respond to the Commodity Market rates.
MCX COPPER JUNE (CMP – 411.55 / $ 6,699)
MCX Copper June as seen in the weekly chart above has opened at 421.05 levels and during this week prices made a high of 422.20 levels. During this week prices corrected sharply towards the low of 405.55 levels and at the end of the week prices bounced back from near to the support of 405 levels and finally closed 1.90% lower on 411.55 levels. During this week prices have closed below previous week’s closing of 419.50 levels and as per candlestick it formed a “Bearish candlestick” pattern which indicates bearishness.
For the next week we expect Copper prices to find support in the range of 405 – 404 levels. Trading consistently below 404 levels would lead towards the strong support at 398 levels and then finally towards the major support at 392 levels.
Resistance is now observed in the range of 420 - 422 levels. Trading consistently above 422 levels would lead towards the strong resistance at 427 levels, and then finally towards the major resistance at 434 levels.
MCX / LME Copper Trading levels for the week
Trend: Sideways
S1 – 404 / $ 6,620 R1 – 420 / $ 6,880
S2 – 398 / $ 6,520 R2 – 427 / $ 7,000
Weekly Recommendation: Sell MCX Copper June between 418 – 422, SL- 427, Target – 405 / 404
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