Crude Updates

NYMEX Crude is in consolidation phase. Last week Crude Oil was up for most part of week but was not able to sustain neither at higher level nor at lower level. For the coming week 85$ and 80$ 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 5400 and 5600 and major supports will be 4700 and 4400.

Resistance: 107.95 - 101.06
Support: 96.81 - 91.11

This next week traders can use sell on higher level strategy, if NYMEX Crude sustains below the level of 100.00 $ a barrel then below the level of 97.90 $ a barrel it can test the level of 96.80$/95.20$ a barrel and in MCX if Crude sustains below 5030 then below 4950 it can test the level of 4910/4850 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

Gold and Silver Updates: Crude Oil Trend

In the International market Gold and silver is looking sluggish. On Comex gold is trading closer to $ 1664, while silver is trading flat. But prices are still above $ 30. On Wednesday, Gold in the Domestic market closed with nearly 1/2% decline around Rs 27,473, while Silver closed with a lead of 1/2% around Rs 53,474.
In the International market Crude Oil is trading in a bullish trend. On Nymex Crude Oil is trading with a rise of 1% above $ 101.

Gold and Silver Outlook: MCX Bullion Tips

Gold and Silver in the international market has rised strongly. On Comex Gold is trading with nearly 1.5% faster around $ 1653, while silver gained 2% and is trading above $ 30. In the Domestic Market Gold was closed with slight decline around Rs 27,500 on Monday, while Silver was closed with nearly 1/2% gain around Rs 52,350.

MCX Commodity Updates for Today: Gold Silver Copper Crude News

A sharp decline in Gold and Silver in the International market has been witnessed. On Comex Gold is trading with a decline around $ 1,644, while silver is trading slightly above $ 30. Yesterday (Thursday), gold closed around Rs 27,644 with a slight decline in the domestic market, while silver closed around Rs 52,744 with an edge.
In the International markets a surge is being witnessed in crude oil. On Nymex Crude Oil is trading with 1/2% rise close to $ 100. On Thursday, crude oil in the domestic market closed with almost 1/2% down around Rs 5253.
Copper on the London Metal Exchange is trading with 1/2% decline. On Thursday, Copper in the domestic market closed with nearly 2.5% rise at Rs 417.

MCX Silver Updates

Yesterday, MCX Silver (March) contract rose around 1.5% and touched an intra-day high of Rs53,018/kg. Today, Silver prices are witnessing buying interest as crossed the hurdle of 52410, therefore, traders can expect prices to test 53510 on higher end which seems to be a important resistance for the counter.

Technical Levels for Today
Silver (March)
Support: 51750 - 52450.
Resistance: 52840 - 53550.

Gold Silver Updates: MCX Bullion Tips

Today, Gold and Silver prices are expected to trade in a sideways bias, and will take cues from a stronger dollar and choppy sentiments in the global markets. Gold prices are witnessed a bounce from the support level of 27610 till 27767, but closed below 27610 which indicated some selling pressure till 27510 – 460. Silver is also expected to take cues from movement of the base metals. Whereas, Silver prices are witnessing selling pressure around 52210 - 52410, prices are likely to test 51110 – 51010 on lower end. Traders are advised to sell Silver on rise around 52410.

Technical Levels for Today
                                  Unit            Support            Resistance
Spot Gold                $/oz               1606/1595          1623/1633
MCX Gold (Feb)     Rs/10 gms     27510/27432      27716/27844
Spot Silver              $/oz               28.95/28.55        29.34/29.65
MCX Silver (Mar)   Rs/kg             51365/50974      52148/52544