Commodity Tips and Trend~ Crude Oil,Gold,Silver,Updates

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Commodity Market Updates :- After the Fuel price hike it take the oil market at high end ,Global oil prices soared today to new four-month highs, as speculation intensified that the US Federal Reserve was about to announce more quantitative easing to stimulate the flagging economy. 

MCX Crude Oil Trend Today :- Crude oil prices is expected to trade on a positive note on the back of upbeat global market sentiments after statement from US Federal Reserve Chairman Ben Bernanke along with weakness in the DX. Additionally, unrest in Middle East and North Africa which will disrupt crude oil supplies coupled with rising tension from Iran expanding its nuclear program. Appreciation in the Indian Rupee will cap sharp gains in the prices on the MCX. MCX Crude Sept’12 Rs/bbl support - 5340/5310 Resistance – 5420/5460. 

Gold Silver Trend Today :- we expect precious metals to trade with positive bias due to upbeat global market sentiments and weakness in the DX. Also announcement by US Federal Reserve Chairman Ben S. Bernanke of buying $40 billion long term Mortgage Backed Securities (MBS) every month will support an upside in the prices. In the Indian markets appreciation in the Rupee will cap sharp gains in the MCX prices. 

MCX Silver Dec’12 Support - 65000/64600 Resistance – 65750/66200. 

MCX Gold Oct’12 Support - 32250/32120 Resistance – 32500/32600. 

MCX Tips Today :- Lead (Sept) Buy above 117.5-117.7 for target of 119 121 with stop loss of 116.8 with Sideways trend. 

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COMMODITY MARKET UPDATES

Commodity market updates 17 Nov:- Commodity market open at lower end today at negative bias and still trading at red zone.Today at 11 am MCX silver Dec contact trading at red zone and MCX Gold Nov contact also trading at red zone.Both contact decline today.Gold has resistance level at 29155.1 and last resistance level will be 29155.1 and support at 28837.3 and last support at 28569.3 with the pivot level of 28990.3.silver has resistance level at 57662.3 and last resistance level at 58702.2 and support at 56653.3 and last support at 55617.5 and pivot level at 57456.Crude oil has resistance level at 5211.3 and last resistance level at 5346.9 and support at 5088.9 and last support at 4953.8 with the pivot level at 5113.7.

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Ncdex Tips for today | Ncdex News For Today(7 Jun 2011)

Black pepper for the June delivery settled the last session higher by 1.27% at Rs 29561 after hitting the high of Rs 29837.
Pepper futures are expected to continue the bullish movement with June contract has resistance at Rs 29850, Rs 30000 and supports at Rs 29450, Rs 29250.
The open interest dipped 11.84% to 9,142 tonnes. Black Pepper for ready delivery in Kochi, closed Monday's trading session at Rs 28,100, up by Rs 200 over last close.
Lower arrivals in the local mandis against the strong demand are likely to support the uptrend, however weak export demand and ample supply in global market may limit the gains.

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