MCX Crude Trend for This Week (13th - 17th Feb)

Crude (March):- NYMEX Crude is in consolidation phase. Last week Crude Oil was up for most part of week. For this week 90$ and 85$ will act as major supports and 105$ and 110$ a barrel will be a major resistance in NYMEX Crude. In MCX Crude Oil major resistance is found at 5300 and 5550 and major supports will be 4700 and 4500.
Resistance: 106.91 - 100.62.
Support: 96.28 - 89.55.

Strategy: For this week traders can use buy on lower level strategy, if NYMEX Crude sustains above the level of 99.00 $ a barrel then above the level of 99.50 $ a barrel it can test the level of 100.30$/101.20$ a barrel and in MCX if Crude sustains above 4930 then above 4960 it can test the level of 5010/5070 in this week. Trade by keeping the proper stop loss.

Crude Oil Updates: Trend and Outlook

Today, Crude Oil prices are expected to trade on a positive note, as market sentiments are witnessed positive and a weaker dollar will help for the upside support. Little pull back is expected to be seen during Asian session due to higher equity market. Traders are advised to sell Crude Oil on higher levels.

Technical Levels for Today
                                     Unit      Support        Resistance
NYMEX Crude Oil      $/bbl      99.79 - 98.89   101 - 101.94
MCX Crude (Jan’12)   Rs/bbl     5057 - 5024     5119 - 5170

Crude Oil Updates

Today, Crude Oil prices are expected to trade higher taking cues from supply disruptions in Syria and Iran’s naval exercises in a key shipping lane. Additionally, a weaker dollar will also provide further support. as Crude prices are looking positive, traders are advised to buy Crude Oil around 5261 with a stop loss below 5211 for the target of 5321 - 5336.
Crude Oil (Jan): Support 5201 - 5261, Resistance 5301 - 5366.

MCX Commodity Tips for Today: Gold Silver Crude Updates

In the previous trading session, Gold futures traded in a narrow range before closing in negative, as investors pared their holdings of the precious metal due to year-end liquidations. Today, Gold prices as expected to trade within the range from 27510 - 27910. Traders are advised to buy on dips and sell on rise.
Gold (Feb): Support 27460 - 27710, Resistance 27830 - 28010.

Silver prices are trading in a narrow range, traders can expect prices to test 53410 – 510 on higher end. 52310 level is a good support for the day.
Silver (Mar): Support 51810 - 52810, Resistance 53410 - 54310.

Crude oil futures continued their positive movements, encouraged by a weaker US dollar and higher Asian stock markets, but faced strong resistance closer to the $100 per barrel level. Today, Crude prices are looking positive, traders are advised to buy Crude Oil around 5262 with a strict stop loss below 5212 for the target of 5322 - 5337.
Crude Oil (Jan): Support 5202 - 5262, Resistance 5302 - 5367.

MCX Commoditiy Tips Updates for Today

MCX Gold (FEB.) Trend: Consolidate
Resistance2- 28050, Resistance1- 27740, Support1- 27140, Support2- 26850
Strategy: Sell on higher Levels.

MCX Silver (MAR.) Trend: Consolidate
Resistance2- 55600, Resistance1- 54900, Support1- 52300, Support2- 51200
Strategy: Sell on higher Levels.

MCX Crude Oil (DEC.) Trend: Consolidate
Resistance2- 5190, Resistance1- 5110, Support1- 4980, Support2- 4910
Strategy: Sell on higher Levels.

MCX Copper (FEB.) Trend: Consolidate
Resistance2- 402, Resistance1- 396, Support1- 386, Support2- 381
Strategy: Sell on higher Levels.

MCX Commodity Updates: Gold Silver Copper Crude Trend for Today

International and domestic Crude Oil declined today. At Nymex Crude Oil is trading with 1% decline. At MCX Crude Oil is trading with about 2% decline at Rs 5052.
Weak position in the domestic market in both gold and silver are visible. On MCX Gold is trading down at Rs 28,775. Silver is also trading with a decline of 1% at Rs 56,420. The international market has also put pressure on gold and silver.
Today all the base metals are trading at 1 to 1.5% decline. MCX Copper is trading with around 1% decline at Rs 383. Pressure on LME Copper is also seen.
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Commodity Updates: Copper Trend Today

In International Market Copper has declined by 23% in the year 2011. But now in 1 month copper on the London Metal Exchange has returned to the lower level buying. In Crude Oil mixed trend is being witnessed. On MCX Crude Oil started the day with 0.75% up and is still going fast. Nymex Crude oil on the international market is sliding under $ 97.