MCX Bullion Tips Today: Crude Oil Updates

Gold prices are up at one-week high in early trades today, extending gains from the previous session, as upbeat economic data from the US & Germany boosted market sentiment and also support was seen after a strong demand for Spanish debt. Today, Gold prices are expected to test 28000 – 28150 on higher end, traders are adviced to buy Gold around 27910 with a stop loss of 27710.

MCX Gold (FEB.) Trend: Consolidate
Resistance2- 28300, Resistance1- 28050, Support1- 27650, Support2- 27400
Strategy: Buy on Lower Levels

Silver prices are expected to trade within the range from 52300 to 53200, traders can trade within the range.
MCX Silver (MAR.) Trend: Consolidate
Resistance2- 55900, Resistance1- 54700, Support1- 52300, Support2- 51100
Strategy: Buy on Lower Levels

Crude Oil futures rallied almost 4%, finding support from a decline in the US dollar as upbeat economic data from the US and Germany helped brighten the outlook for energy demand. For today, Crude prices are looking positive and traders are advices to buy Crude Oil around 5112 with a stop loss of 5072.
MCX Crude Oil (JAN.) Trend: Consolidate
Resistance2- 5260, Resistance1- 5210, Support1- 5090, Support2- 5010
Strategy: Buy on Lower Levels.

MCX Crude Oil Updates: MCX India Tips

In the morning Crude Oil prices were trading above $94/bbl, up by more than 0.40% in Globex electronic platform. Geopolitical tension in Korea and Iran might be supporting oil futures to take some cues. Kim Jong II will be heading the nuclear armed nation Korea, after death of his father. Likewise US and other major nations are planning for further sanction against Iran, the largest oil reservoir of OPEC.

Crude Oil prices are looking positive and expected for a bounce till 5070 – 5100 levels, traders are adviced to enter with a long position around 5010.
Crude Oil (Jan.): Support 4920 - 5000, Resistance 5030 - 5120.