MCX Gold Trend & Weekly Outlook 12 Aug - 17 Aug

The Volume of gold trading in the commodity market is moving down day by day. From the trading volume point of view the gold used to stand among the top 5 futures contract commodities which is now not in the top 10 even. If we see the 2 months before trend of gold trading voulme on MCX, in the early 2 hours of market opening around 10,000 lots were being traded which has reduced to 2000 hardly. The volatile gold prices and the fluctuating currency keeps on restricting the investors away from the gold investment. After the commodity transaction tax the cost of gold trading has increased due to which the intraday traders are keeping themselves away from the gold trading. According to market survey it has been found that the market trading volume has reduced also the revenue was too much low as per the expectations. 

Following the last 3 days market trend gold is now koving up side to recover the prices. Also the RBI has introduced the policy to invest 22,000 crore in the open market so as to support the falling rupww. In the Next Week golf may proceed to move upside. 

MCX Gold Levels for Next Week: Support 27420-27240 Resistance 28140-28350

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Live Commodity Tips : Bullion Will Face Bullish Trend Today

Both bullion commodities yellow metals gold & silver started trading on the negative bias today in the morning session. Although the gold recovered from early dips silver is still trading on negative note. Fed has made it clear that it is going to purchase the bonds for next 1 month at least. Opaque official China PMI data may put a positive impact on the gold in the domestic market. For Intra day trading session the gold is expected to trade on the green bourses and may take the strong support at around 28000-28150 while resistance at 28500.

MCX Gold Tips for Today: Traders are advised to buy mcx gold at around 28240 for the intra day target of Rs. 28350 with stop loss at 28190.

MCX Silver Tips for Today: One may initiate sell position in the silver on MCX for the intra day target of Rs. 41420 with stop loss at 41550. CMP 41510. 

Commodity Market Will Face Bullish Trend Today

International commodity market is on the bullish side for the day trading session on Tuesday. Yellow metals may face the bullish trend in the domestic market also following the same trend. Gold has jumped to it's high of last one year in the global market & now it is witnessing the selling pressure. Nymex Crude oil is also trading with gain momentum in the market. MCX Base metals may trade on the consolidate trend today which may turn bullish in the evening session. 

MCX Base Metals View for Today: All base metals excluding the nickel on MCX will trade on the positive bias today. On the intra-day basis the MCX Nickel may witness the support level at around 830 will may drag down the prices further to 827 level. Resistance for the commodity is at 845-848 level. US data on Existing Home Sales was positive yesterday due to which the mcx base metals went up yesterday. The trend of the lead, copper is expected to remain on the upside.

Free Commodity Trading Calls for Today

• Buy MCX Gold (August) at around 27400 with stop loss at 26200 for the intra-day target of 27800.
• Buy Crude Oil (July) at around 6300 with stop loss at 6250 for the day target of Rs. 6400.
  
  

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Bullion Free MCX Tips Today: Gold Silver Bullish Trend

Bullion MCX Gold Silver Trend Today: On the intra-day as well as on the future's commodity gold chart the bullion mcx gold is bullish however one may find the sideways to bullish trend today on MCX India. August Future is bullish for the day as well. US Federal Reserve's has send an indication in the market which supported the gold in domestic market today. Following the gold in the domestic market the silver has been trading on the positive bias since Tuesday morning. 

MCX Gold Intra-day Tips for Today: Gold on Multi Commodity Exchange of India may trade on bullish to sideways for the day. Gold may find the the up side Resistance level at around 26300 while support for the gold is seen at 25800. Traders may initiate the buy position as bullion yellow metal is expected to move up at around 26100 to avoid any volatility for the intra day target of Rs. 26300. 

MCX Intra-day Silver Trading Tips for Today: MCX Silver is trading bullish today. Silver will find the support level at 39,900 followed by the strict resistance level at around 40,600. Traders are advised to take buy position with stop loss at 40100 for the target of 40,550.

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MCX Natural Gas Trend & Commodity Trading Tips for Today

MCX Natural Gas Trend Today MCX Natural is trading on positive bias right now but it may move down in upcoming evening session till 216 level. After breaking this level it may further move down. On intra-day MCX live chart the natural is expected to witness the support level at around 211 & after breaching this level it may test the 207 level. While on other hand the Resistance for the commodity is seen at 216-220 levels for the day. However, higher then expected US natural stock-piles are limiting gains in the natural gas futures to certain extent.

Natural Gas Trading Tips for Today Natural gas traders may take the sell position at around 215 with stop loss at 217 & can wait for the intra day target of 212-208.

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MCX Intra-day Free Tips : Nickel Lead Copper

MCX Base Metals Trend Today: Base metals may trade on the bearish side today on the Multi Commodity Exchange of India. Nickel & Lead will be the main base metals to watch out for the day. Aluminium, Lead & Copper will move up in the day trading session but Nickel will move down with the strong support at around 815 after this level It may move down further to witness a major fall today to reach 810. Aluminium & Lead will continue to trade on the positive bias for the day. Major economic decisions will be taken by the Government to recover Rupee against the Dollar in the domestic commodity market. Traders may take short position for the Nickel & long for the other base metals. 

Major MCX Commodities Support & Resistance Level for Today

• MCX Gold has the strong Resistance at 28200 for the down side support at 27399.
• MCX Silver may find the Support & Resistance Level at 42286 & 44445 respectively for the intra day session.

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