Intraday Commodity Tips

CRUDE (JAN)

Crude saw biggest weekly gain on US Economy. Reports indicated that growth in the world highest crude consumer will accelerate, and as a result it made a high of 5300 before recovering from the low of 4940, which indicates short-term trend is bullish. Now in this week, price stays above 5300 for a few sessions, will move further and may test 5375, thereafter further up-move cannot be ruled out. On the lower side, 5150-5170 to watch out, decisively breaking with volume with downward bias, do not open / hold long side.

Trend Decider of this week: 5180.

NYMEX: Next week, crude may continue rising and market speculation that sanctions against Iran will curb supply from the world's third largest oil exporter.

COPPER (FEB. 2012)

Last week it broke the support level of 390 and finally made a low of 387. But some recovery was seen, which resulted in it managing to close above 400. Now in this week, we may consider resistance at 412-415, successfully crossing over it will move further. On the other hand, downside support at 400-398 to watch out.

NATURAL GAS

It failed to hold the support level of 170 and continue closing, thereby indicating near-term trend as bearish and bulls should avoid fresh longs as long as the price stays below. Continuous trading below may test 156 mark.

MCX Copper Intraday Tips

COPPER (FEB. 2012)

Last week, it broke the major support of 410 and finally made a low of 386. Overall trend is bearish and sell on rise strategy. Now resistance at 398-400, and major resistance at 420. Downside support at 380-373 to watch out, once break and trade below bears may show power.

Trend Decider of this week: 411.

Today: For the time being, above 390 looks good and sustained above 396 more up side.

Gold & Nickel Free Tips

Nickel

Nickel (MCX-Dec'11): Nickel strongly maintained its support at 950. Today we expect that this level may breach but a bounce back from lower level is also there on the card.

Last day Nickel breached the level of 950 and smartly bounced back from lower level."

Today's Tips: Buy Nickel above 983. TGT- 992. SL- 975. Sell only below 970. TGT- 958. SL- 975.

Gold

Gold (MCX-Feb'11): Sell! Sell! Sell! No need to think to go long at this level. Very soon gold is going to touch 26800.

Today's Tips: Sell Gold below 27505. TGT- 27350. SL- 27656.

Free Intraday Tips

MCX COPPER INTRADAY TIPS - SELL COPPER

MCX COPPER FEB
SELL BELOW 394
STOPLOSS 398
TGT 391-388-386

MCX Crude Oil Tips - Sell MCX Crude Oil Now

MCX Crude oil
Sell below 5080
Target : 5063-5050
Stoploss : 5096

Buy MCX Natural Gas - Live Trading Tips

MCX NATURAL GAS
BUY AT 168.20-168.30
TGT: 171 / 172.40 / 174
STOPLOSS: 167

MCX Gold Free Tips

Gold- 29096.00/10Gram (Prev Close)

Gold COMEX Dec’11 -1713.40$/Oz (Prev Close)

The support for Gold remains at 28885/28674 it has resistance at 29370/29644 level. Gold prices traded steady on Friday, as investors watched the progress of a crucial European Union summit with dwindling confidence that it would produce a cure for the two-year-old debt crisis.

Silver-56237.00/Kg (Prev Close)

Silver COMEX Dec’11-31.53$/Oz (Prev Close)

The support for Silver remains at 55514/54791 while it has resistance at 57397/58557 level. Silver prices traded steady on Friday, as investors watched the progress of a crucial European Union summit with dwindling confidence that it would produce a cure for the two-year-old debt crisis.

Natural Gas (MCX-Dec'11): See what we are mentioning in our newsletter sine last few days:

"NG is moving is a very narrow range of 185 - 195. Break on either side will decide the trend. Overall, sentiment is negative for the time being."

Copper –406.00/Kg (Prev close)

The support for copper remains at 403/400 while it has resistance at 411/415 level. Copper hit a one-week low on Thursday as hopes for swift action to combat Europe's debt crisis were dashed after the European Central Bank underlined its reluctance to pave the way for bond buying on a large scale.

Crude-5155.00/Bbl (Prev close)

Crude NYMEX Jan ’12 98.34$/Bbl (Prev Close)

The support for Crude remains at 5108/5062 while it has resistance at 5220/5286 level. Brent crude fell below $108 on Friday, on growing concern that European policy makers will fail to deliver a concrete plan to tackle the euro zone debt crisis at a key meeting, an outcome likely to hurt prospects for demand.

Free Tips For MCX Intraday Trading

GOLD: (Feb 2012)

Gold February as seen in the weekly chart, found resistance at 29433, fell sharply lower towards 29000, and finally closed lower.

For this week expect MCX gold resistance at 29300-29400. If it would not gain this week, one can sell the gold at the level. If it goes above 29450, then 29650-29800 can also be expected from the counter.

Support is now observed at 28980. One can buy around the level and if it cannot maintain levels, further below strong support is seen at 28470. Trading consistently below 28500 could trigger a sharp correction initially towards 28250-28150.

SILVER (March 2012)

Silver March as seen in the weekly chart, found resistance at 58000, then fell sharply lower towards 56000, and closed at 57000.

For the next week we expect Silver prices to find resistance at 58350. One should sell the position at that level. Trading consistently above 58400 can trigger a sharp rally initially towards 59200, then 59850, and then finally towards 60500. For this swing the 60000 level can be a last point this time. Above that a new trend formation can be observed.

Support is now observed at 56200-56000. Trading below 56000 would give correction initially towards 55650, and then finally towards 55500.

CRUDE (DEC)

Crude December as seen in the weekly chart, after making a high of 5275, fell sharply towards 5100 levels.

For the next week we expect Crude prices to find resistance at 5250 and further above strong resistance is seen at 5275. Trading consistently above 5280 levels would renew the previous rally initially towards 5400, then towards the Major resistance at 5470, and then finally to 5600.

Support is now observed at 5120. If it breaks with volume then it can touch 4950. Trading below 4980 would trigger a sharp fall initially towards 4850, then 4800, and then finally towards the Major support at 4500.

TODAY FREE COMMODITY TIPS

MCX Gold February as seen in the weekly chart has opened above the R1 levels at 28830 levels and then rallied sharply breaking both the resistances , but could not close above the crucial resistance at 29420 levels. For this week we expect gold prices to find resistance at 29420-29460 levels. Trading consistently above 29470 would continue the rally initially towards 29730 levels and then finally towards 30090 levels.
Support is now observed at 28830-28730.Trading consistently below 28720 levels could trigger a sharp correction initially towards 28245 levels, and then finally towards 27456 levels

Best trading Tips for MCX

Gold prices continued its weakness from $1802.90 levels and have breached its important support level of $1700 mark also. Initially $1680 levels would act as a key support on downside, any sustainable breach below the same will intact the bearish trend.


Weekly RSI as well as short-terms EMA’S are showing the bearish momentum for this week.


Recommendation: Sell Gold at 28565 for a target of 28000 with a stop loss of 28725


MCX Natural Gas rose to as high as 193 last week and reached to its key horizontal line resistance of 194 levels. Any successful close above the same will push the prices towards the next resistance of 207. On weekly charts; RSI (14week) given an upside crossover and weekly MACD also ready for upside breakout, huge volume participation also supporting the bullish momentum in coming sessions.


Recommendation: Buy Above 194 for a target of 207 with a stop loss of 189


MCX Copper prices have given respect to its falling trend-line resistances and ended in a negative zone. As of now 373 levels acting as a key supporting level on downside, any sustainable breach below the same will drag copper prices towards the next support of 360 levels.

Gold prices continued its weakness from $1802.90 levels and have breached its important support level of $1700 mark also. Initially $1680 levels would act as a key support on downside, any sustainable breach below the same will intact the bearish trend.

Weekly RSI as well as short-terms EMA’S are showing the bearish momentum for this week.

Recommendation: Sell Gold at 28565 for a target of 28000 with a stop loss of 28725


MCX Natural Gas rose to as high as 193 last week and reached to its key horizontal line resistance of 194 levels. Any successful close above the same will push the prices towards the next resistance of 207. On weekly charts; RSI (14week) given an upside crossover and weekly MACD also ready for upside breakout, huge volume participation also supporting the bullish momentum in coming sessions.

Recommendation: Buy Above 194 for a target of 207 with a stop loss of 189


MCX Copper prices have given respect to its falling trend-line resistances and ended in a negative zone. As of now 373 levels acting as a key supporting level on downside, any sustainable breach below the same will drag copper prices towards the next support of 360 levels.

Weekly RSI (14) is placed in neutral zone and showing a neutral tendency.



Recommendation: Sell Below 373 for a target of 360 with a stop loss of 379


To read the entire report, including charts, and technical analysis on MCX Zinc Nov, NCDEX Guar GUM, and NCDEX Soya oil, please click on the link below -

Recommendation: Sell Below 373 for a target of 360 with a stop loss of 379