Bullion Outlook, Base Metal Trading Trend, Intraday Tips For Today 1 October: Today MCX commodity markets are expected to open sharply lower as US dollar index traded above 80. Gold was down around $1763. Silver was down around $34.25. In energy segment crude was down around 91.40 and copper also opened lower and was trading around 0.70%.
MCX copper if takes any move above the resistance of 445 would definately take strength towards 448-450 levels. It will continue to get support of 436.00 on downside. In experts view copper is looking bullish today.
Buy MCX Copper around Rs 438 with a Stop Loss of Rs 435 for targets of Rs 448-450
For crude we expect that until price sustains above 4780 levels, price is likely to trade sideways to higher towards 4940-4980 levels.
Sell MCX Crude October around Rs 4,900 with a Stop Loss of Rs 4,950 for target of Rs 4,852
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