Monday, 19 November 2012

MCX Commodity Market Trend And Updates Today

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MCX Commodity Market Trend :- Gold prices have managed to hold the support of 31450 on closing basis. We expect prices to trade within the range from 31800 – 31450. One can buy on dips with a closing stop loss below 31450.Silver prices are expected to remain sideways from 60300 to 61300 on can trade within the range with a positive bias.session we expect precious metals to trade on a firm note due to firm global market sentiments along with weakness in the DX. 

Crude Oil Updates :- we expect crude oil prices to trade on a positive note on the back positive global market sentiments along with renewed tensions in the Middle East. Tensions in the Middle East are likely to disrupt supplies thereby supporting an upside in the crude oil prices. In the domestic markets appreciation the Indian rupee will cap sharp gains in the crude oil prices on the MCX. 

Copper Trend :- Copper prices are expected to trade positive on buying interest on lower end. Prices are expected to test 426 -427 on higher end. On lower end 415 should as a support. A close above 427 would witness fresh buying in the metal to the tune of 432 -433. 

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