Commodity Trend Today | MCX Gold Tips

MCX Bullion Updates :- 

Gold bounced back after dipping in the Asian trading session to trade at $1663.55, as sentiment shifted a bit after news came out that U.S Congress and the President would be returning to Washington to start a fresh round of negotiations.Traders are a bit more optimistic that the deal might be finalized within the next 48 hours. But as of now, traders are preferring to stay at sideline due to political indecision that whether the United States would be able to avoid the fiscal cliff crisis within the dead line or not.

MCX Gold Trend || Gold Support and Resistance :-

S1- 30637.00, S2- 30576.00 , Pivot - 30722.00, R1- 30783.00, R2- 30868.00 

Trend :- Neutral 

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MCX Bullion Tips - Gold Updates 21 Dec

Gold Trend Today :-

Gold is expected to go down as uncertainty over fiscal cliff continues and a stronger dollar will further put pressure on prices. Gold in India is expected to follow international prices, however a weaker rupee can cap the downside. Gold for February delivery on the Multi Commodity Exchange (MCX) was 1.09% down at Rs 30,482/10gms

Gold Technical Levels :-

International :- Major Support at USD1700, Bearish Below USD1700.

Domestic :- Sell at 30580, Stop loss 30640, Target 30500.

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MCX Tips : Crude Oil Trend

MCX Crude Oil Trend Today :-

Crude oil formed a sharp pullback after a sharp decline. It crossed the 61.8% retracement mark and a falling trendline but couldn’t sustain in the higher territory. Consequently, the oil has fallen significantly from there. The fall is unfolding in a channelised manner. It has broken the crucial WMAs on the way down.

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MCX Tips | Silver Trend Today 14 December

MCX Silver Trend :-

MCX silver rallied smartly from the low of 57,400. It did a sharp retracement of the previous fall. The white metal rallied till the 78.6% retracement mark. However, near the key Fibonacci level, the bears rushed in to push the price down. Thus silver started the next leg on the downside, which is subdividing into lower-degree waves.

MCX Silver Support and Resistance :-

Thus, the high of 63,440 becomes a key resistance from a short to medium-term perspective. On the downside, silver can tumble down to the range of 59,420–58,835.

MCX Silver Chart :- 

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MCX Bullion Outlook :- In today’s session, we expect precious metal to trade higher on the back of positive global market sentiments coupled with weakness in the DX. Also optimism that US Federal Reserve might announce stimulus package to boost the economy along with hopes that US law makers might be able to resolve the fiscal cliff issue of the nation.

This is expected to support  an upside in the silver prices.  In the Indian markets appreciation in the Rupee will however cap gains in the MCX Silver prices.

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Commodity Trend | NCDEX Tips

Commodity market today trading mixed. Silver prices were trading higher in major metros in India. In Mumbai market, Pure silver (999 purity) was up Rs 300 at Rs 63325 and in Delhi market it was up Rs 550 at Rs 6225.

NCDEX Tips : Turmeric Trend -

Turmeric prices in India have moved up, after witnessing a negative trend for last few months, on higher arrivals, stocks and better crop prospects.

Trend is looking bullish and some more buying is expected. Support is at 5600 and resistance 6500. Trading above 6500 may touch 7010 level.

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Commodity Evening Updates |MCX tips

Commodity Evening Updates :- Today Commodity market is trading under pressure all commodity segment is trading with negative bias,in mcx gold is slip on the third day on consistant basis.Along with gold silver also fell by Rs 435 to Rs 61,000 per kg on reduced offtake by industrial units and coin manufacturers. Sentiment remained bearish on reduced offtake by stockists who adopted a wait-and-watch policy and expecting more corrections in the prices. 

MCX Tips :- Buy Crude Oil at 4777 Stoploss 4762 Target above 4815. 

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MCX Crude Oil Tips And Updates Today

MCX Updates Today :- After the negative note trading session yesterday now mcx commodity market gold is trading with green note while silver is trading at negative note,having the mixed range today.Today gold is currently trading close to their long-term moving averages. Strong Supports are seen at 31373,31225 & 30273. In today's morning oil prices have come under pressure driven by resumed talk of Fiscal cliff and concern of lower demand in US.for crude oil is expecting technically prices are likely to trade in a limited range for the day.

MCX Crude Oil Tips :- Sell Crude 4882 with stop loss of 4900 for target of 4867 / 4870.

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