Crude prices continue to decline on Wednesday. ~ MCX Commodity Tips

Crude prices continue to decline on Wednesday.

7/29/2010 05:51:00 PM

Admin

Crude prices continued to decline on Wednesday pressured by the API report of rise in crude supplies to 3.1 million barrels last week and disappointing durable goods orders data. New orders for long-lasting US manufactured goods unexpectedly fell for a second straight month in June, posting their largest decline since August. The overall trade remained cautious ahead of the US Energy Information Administration weekly oil inventory data on Thursday.

Benchmark crude for September delivery fell 41 cents, or 0.53 percent, to $77.09 a barrel, after trading in a range of $76.88 to $77.74 on the New York Mercantile Exchange. In London Brent crude slipped 7 cents to settle at $76.06 a barrel on the ICE.

MCX Tips provided by me are source of knowledge and trading strategies for its clients and visitors. Free Commodity tips benefits the traders from the Live Markets commodity calls provided by us, and thus make huge money from the strategies we provide them. FREE MCX Tips are also provided by us on a one two trial days basis for the visitors to our website. MCX Commodities are a great and huge source of profit from Indian commodities traders. There are various commodities being traded on these exchanges ranging from Gold, Silver, Copper, Crude, Nickel, Aluminum, Zinc, Lead, and many more. We provide Daily MCX Reports, Daily Gold Reports, Daily Silver Reports, Daily Copper Trend,Gold reports, Silver reports and Copper Reports, Technical/fundamental Reports on Gold, Silver, Copper, Aluminium,Zinc, Nickel, Crude Oil and Natural Gas with a host of Agri Commodities like Mentha Oil, Cardamom, Potato, Potato Tarkeshwar, Chana, Guarseed, Jeera, Pepper as well as Trading Calls for all commodities on MCX and NCDEX . Apart form Commodity We have other services for Intraday Stock Tips, Free Share Tips, Nifty Tips, Nifty Future Tips, Nifty Option Tips, Free Nifty Tips, Equity Tips, Stock Cash Tips, Free Trading Tips. Register Today to Get Free Trial Stock Commodity Trading tips for Intra-day, Short Term & Long Term Investment on Mobile from Today 23rd December to Tomorrow 24th December 2013.

Subscribe to Our RSS feed!

Expert Speak

CapitalVia Global Research Head of Research Vivek Gupta said: "The good thing to cheer for the investors is that now they own a stake in the company which is much more clean in all the aspects and is amongst the top-five IT companies." Via moneycontrol.com

Commenting on the outlook, the broking firm CapitalVia Global Research said, "Next week, if gold sustains above the level of 26,430 then by breaking the level of 26,890, it may touch the level of 27,250. But if it fails to sustain above 26,430 then may touch the level of then it may test the level of 25,311/25,200. For silver 42,800 may act as good resistance. For the next week, traders can sell on higher level strategy, if MCX Silver September futures sustains below 41,080 then it could test the levels of 40,340/ 39,900." Via myiris.com

Vivek Gupta, head of research, CapitalVia Global Research said, "Technically, Nifty is likely to consolidate in the upcoming session and remain bullishly poised. Major resistance for upside is 6,080 with the crossing of which 6,150 can be touched. For downside, major support is at the level of 5,850 and 5,750."

MCX Support Resistance Levels- 13 June

script	R2	R1	S1	S2	Action
Gold	28372	28100	27625	27420	Buy on Lower levels
Silver	45633	44744	42281	41183	Buy on lower level
Copper	423	418	409	405	sell on higher level
Crude	5679	5608	5420	5325	buy on lower level
Naturalgas	229	225	214	210	Sell on higher level
Lead	128.40	125.65	120.00	117.40	Sell on higher level
Zinc	111.15	109.60	104.35	102.60	Sell on higher Level
Nickel	896	879	816	797	Sell on higher level

NCDEX-SUPPORT & RESISTANCE - 07 August

script	R2	R1	S1	S2	Action
Soybean	4090	4010	3860	3785	Buy on lower level
Turmeric	6870	6740	6000	5860	Buy on higher level
Cottonseed	1745	1715	1650	1620	Buy on lower level
Chana	5055	4960	4770	4675	Buy on lower level
Jeera	17580	17250	16600	16270	Sell on higher level
Pepper	45600	44750	43050	42200	Buy on lower level
Gur	1285	1260	1220	1195	sell on higher level
Musters heed	4660	4510	4340	4255	Buy on lower level

Trading Rules

1. Always do your analysis before trading.

2. Always have a clear and reasonable idea of your objective.

3. Never trade on emotions or other people's forecasts.

4. Buy at support and sell at resistance.

5. Always trade with "STOP LOSS".

6. Never hold a losing position over night.

7. Never add to a losing position.

8. Never risk more than 5 per cent of your trading capital on one trade.

9. Take responsibility for your own trades.

10. If you are breaking any of the above rules then STOP TRADING ? coz you are out of control.

DREAM BIG ; EARN BIG

Disclaimer: The usage of this blog confirms to the policy that the investment in stock market has inherent risks and author or his clients may or may not be following the recommended tips.This Blog is not responsible for any errors, omissions or representations on any of our pages or on any links on any of our pages. Blog does not endorse in anyway any advertisers on our web pages. Please verify the veracity of all information on your own before undertaking any alliance.The author will not be held responsible for any loss incurred by following the advice.

Design by Free WordPress Themes | Bloggerized by Lasantha - Premium Blogger Themes | Grants For Single Moms

MCX Commodity Tips - The Bullion Metals