Monday, May 27, 2013

Today MCX Gold & silver are bearish| crude oil in green side | commodity updates and tips for 28/05/13


Gold for future fell by more than 0.32% per 10 gram on domestic market, currently gold comes in strong downtrend and accepted to trade towards bearish side in today trade. In overseas market gold drop by 0.50% to $1387.18 per ounce in Singapore .  At MCX gold for June delivery light ups in downside on Tuesday morning,   it open at 26426 and touch an intraday low of 26302.  Gold prices are looking to move up due to strengthen in Dollar prices.

Similarly silver support a strong down trend on first hour of trading. Today it open at 43550 and felling down from its opening position for July delivery and touched a low of 43271.
After a week crude oil comes to green side, in global market Brent crude up by 6 cent at $102.68 per barrel meanwhile US crude slipped by 36 cent to $93.79. At MCX crude oil for June delivery prompted high on early morning with little pace. On Tuesday it open at 5226 and touched an intraday high of 5240 with a low of 5223.

In base metal nickel and copper are trying to recover from its yesterday worst performance, at Multi commodity exchange today copper for June delivery open at 406.95 bit low against its last close at 407.30. In today trade copper looks much volatile with a small correction in domestic MCX market.  MCX nickel sound positive trend in today trade for future delivery, today it open at   818.80 with an intraday high of 824.10 and low of 817.90 at 12:14 pm. While Zinc and aluminum are also rising up with low bullet at MCX, it seems to make small correction in today trade with strong support which comes from global market.

Today MCX calls

Sell silver July below 43400 tgt 43350, 43300, 43200………..sl 43600

Buy crude oil June above 5230 tgt 5240, 5250………………sl 5210

Buy nickel above 823 tgt  825, 827, 830………….sl 816










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