Monday 11 June 2012

Commodity Market View : MCX Gold, Lead, Crude Oil Trend and tips

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Commodity Market open this trading session with positive note after green end closing on saturday. 
Gold Trend Today :- Gold futures hit back above $1600 an ounce in Asia electronic trades today on news that Spain would seek a bailout for its banks, the health of which has been a source of much global anxiety.The metal is likely to trade in the range of $1550-1650 range this week. MCX August gold futures may open today's session near Rs. 29600 levels with resistance near Rs. 29670 and Rs. 29720 levels. 

MCX Lead trend :- MCX Lead is likely to find support at Rs. 104.9 per kg and Rs. 103.7 per kg and resistance at Rs. 105.8 per kg and Rs. 106.5 per kg. 

MCX Crude oil trend and tips today :- Asian stocks rose sharply Monday on news Spain would seek a bailout for its banks, the health of which has been a source of much global anxiety.MCX June crude oil futures may open today's session near Rs. 4700 levels with resistance near Rs. 47704800 levels. Buy MCX Crude oil June contract at around Rs 4,700 per barrel with a stop loss of Rs 4,660 per barrel for a target of Rs 4,840 per barrel. 

MCX Aluminium trend :- Aluminium finding strong support at Rs.108 per kg and Rs. 107.5 per kg and resistance at Rs. 109.7 per kg and Rs. 110.5 per kg. 

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