Saturday 12 April 2014

Copper positional call, crude oil, gold silver tips tomorrow


mcx copper close on 407 and made high 411.7 copper positional look strong uptrend support level 395/392 and resistance level 411,417,423
LME inventory given supoprt to base metal prices as well as crude oil prices increase after inventory and increase demand in U.S.
Base metal and nickel update: nickel prices hit 11 month high wake of Indonesia's decision. And increase demand from consuming industries, firming global trend.
Nickel close at 1055.9, open at 1037.9 and made high of day is 1057, nickel low was 1035.3.
positional support of nickel is 1005,995 and resistance level is 1065,1076,1110
gold silver trend : mcx gold yesterday close at 28756, while open at 28799 and made high 28844 level and low of day is 28670.
mcx gold support at 28650,28460 and resistance level is 28950,29100
MCX crude oil trend : mcx crude oil made high of day is 6311 and close at 6292 while low of day is 6215, positional support of crude oil is 6090,5980 and resistance level is 6410,6670 for April contact.

Commodity calls
buy gold above 28700 target 28850,29000 stoploss 28550
buy silver 43100 target 43450,43700 stoploss 42900
buy copper 407 target 411,413,415 stoploss 402
buy nickel above 1055 target 1065,1078,1100 stoploss 1030
buy crude oil 6270 target 6350,6400 stoploss 6200


2 comments:

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  2. Crude oil gained but upside was limited due to weak Chinese economic data and the potential of more supplies returning to the global market for Commodity trading tips.

    ReplyDelete