MCX Silver Tips, Copper Updates, Zinc Trend, Crude Outlook, Gold Updates Today, Silver Trend Today, Natural Gas Calls, Gold Intraday Tips for Today Wednesday 11 July:
Bullion Outlook: Today, MCX METAL is trading downward by 11.85 points at 4,866.33 after opening at 4,877.14 in the morning session at MCX. Gold futures prices are continuing descend move at the early Global markets. Silver futures prices have also revived a tad from prior closing. Precious metals Gold & Silver prices fell more than 1.5 percent yesterday, as investors sold across the board on news of US Investment Banks. We expect gold to remain weak for the day and recommend to stay short for it from higher levels. Silver is likely to remain weak for the day. We therefore recommend for silver also to stay shaort.
Base Metals Trading Tips: Today morning base metals are trading slightly up by 0.1-0.3 % as investors closed positions and stuck to short-term strategies. Metals prices dipped yesterday after a sharp fall in Chinese imports. It reflected demand outlook and provided further evidence that Europe's three-year debt crisis is weighing on the global economy. Metals prices are trading a tad higher on international benchmarks today. We expect prices to remain under pressure tracking weak import numbers from China.
Crude Oil News: Crude oil prices are trading higher after yesterday's slump on NYMEX. We expect a further weakness in the prices of crude oil on account of slowing global demand for Oil. Sell on rise should be the strategy for the day.
1) Gold Aug- Support: 29224/29293/29358 Closing:29428 Resistance: 29545/29649/29694
2) Silver July- Support: 51889/52159/52395 Closing: 52648 Resistance : 53110/53519/53685
3) Copper Aug- Support: 415.5/417.0/418.4 Closing:419.90 Resistance: 422.5/424.9/425.8
4) Crude Oil July- Support: 4715/4726/4744 Closing:4764.0 Resistance: 4782/4799/4811
5) Natural Gas July- Support:148/151/153 Closing:154.70 Resistance:159/162/163.3
0 comments:
Post a Comment