MCX Commodity Tips Today : Gold, Nickel, Copper Trend

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Commodity market start todays trading session with positive note ,taking the positive global cues from yesterday trading session. 

Copper trend today :- Copper is expected to trade on cautious note during the morning session on Thursday, 28th June as the bout of cautious trading amid the looming European summit due to start today might weigh on the on the sentiment. Also, the German Chancellor Angela Merkel's rejection of common euro zone bonds might pressurize the metal. Copper is likely to find support at Rs. 416 per kg and Rs. 414.2 per kg and resistance at Rs. 421.5 per kg and Rs. 424.5 per kg. 

Mcx nickel trend :- Nickel fell for the third consecutive day in a row, edged down by 0.3% or Rs2.3 at Rs.925.8 per kg on Wednesday, 27th June and tested an intraday high of Rs. 932.7 per kg and low of Rs. 920.2 per kg. The open interest dipped by 6.7% to 8472 lots and traded below 9-day EMA with its RSI at 43.28. Nickel stood near to the major support level ofRs. 923 per kg and is likely to find next support at Rs. 919 per kg and resistance at Rs.938 per kg and Rs. 942 per kg. 

MCX Gold Trend today :- Gold held nearly steady on Thursday and could trade in a narrow range ahead of a European Union summit, which is unlikely to deliver new measures to tackle the region's debt crisis and may prompt investors to turn to the safety of the US dollar. Support- 29868.9/ 29687.6 Resistance- 30125.4/30307.4 Pivot level- 30008 

MCX Tips For today :- Silver gave an entry for the short side and Rs 52,200 per kilogram is the target he is looking at which just fell short of it, it was around Rs 52,400 per kilogram.Today mcx silver may have some retracement back to the Rs 53,000 per kilogram levels, which means investors could add to their positions and again look at the Rs 52,000 per kilogram levels as the point to cover it. 

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