Friday, 11 April 2014

Base Metal Positional call today , crude oil down trend

Base metal copper and nickel made high today, mcx nickel hit 1053.7 upside while open was 1037.9 , mcx copper open at 406.2 and made high 409.6, lead and aluminium also increase more than 0.5 paise.
Mcx gold and silver look down trend after touch $1321.57 and $20.1, gold made high 28824 and silver made high 43405, rupee also weak than dollar today, traded above 60.23 with loss of 15 paise.
Crude oil trend: oil prices look up trend after soft chines trade number and weak U.S supply Report, on the Newark mercantile Exchange, west taxas Intermediate crude oil for delivery in may traded $103.40 a barrel and a high of $103.80.
mcx crude oil open weak today at 6231 and made high 6235 of day, down side low of day is 6215 so crude oil should be slip down 6200 level.

Evening commodity calls:
buy gold 28680 target 28750,28800,28900 stoploss 28580
buy silver 43150 target 43450,43600 stoploss 42950
buy copper above 408 target 410,412,414 stoploss 407
sell crude oil 6230 target 6200,6180 stoploss 6255


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