MCX Commodity Outlook:Gold Updates

MCX Gold Silver Trend|Base Metals Trading Range Commodity Tips Today 24 February:-  Gold edged lower, although a weaker dollar supported positive sentiment. Spot gold edged down 0.2 percent to $1,777.04 an ounce. Spot Gold is currently trading at $1775.40. MCX Gold April is currently at 28715, it is trading down by `198 points for the day. Comex Silver is currently trading at $35.30 whereas MCX Silver March is currently trading at 58350, it is down by 327. Get MCX Commodity Tips By experts.

Copper traders are the most bullish in two months on speculation. The metal rose 

10 percent to $8,379 a metric ton this year on the LME, the best start since 2008. China consumes about 40 percent of the world’s copper. Crude Oil rose a seventh day, the longest winning streak since January 2010. Crude Oil is currently trading at $108.49 per barrel. MCX Crude Oil March is currently trading at `5349, it is trading up by 69 for the day. All base metals are trading on a negative note today.

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MCX Gold Updates : Tips Trend Today

MCX Gold Tips Trend Trading Strategy Today|Live Commodity Rates 23 February:- We may see Gold prices trade in the range of $1800/Oz-$1600/Oz for some more weeks, but in the long run from 1 ½ years perspective, we expect the gold hit target of $2170/Oz and $2242.9/Oz. Our view remains firmly in place as long as gold prices do no close below $1480/Oz on weekly basis.

• Key levels for the day: Downside: Immediate 1742-1736/1715/1702-1700
• Upside: Minor 1780 then 1800/1840. 
• Buy on dips to 1742 target 1765 SL below 1732
• Buy on dips to 1725 target 1754 SL 1715.
• Buy at 1702 target 1752/1770 SL 1698
• Confirm selling below 1660 target 1642/1625 SL 1690. 

Downside turn around point is at 1660. Day’s bias likely to continue the broad bullish prospective, but a dip lower is favored before resuming such strong bullishness. It would require breaking 1736 to negate intraday bullishness. 

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MCX Copper Updates|Commodity Tips

MCX Commodity Tips Copper Trend Levels Strategy :- Last week COMEX Copper was neither able to sustain at higher level nor at lower level. For the next week traders can go for buy on lower level strategy in Copper. In next week if COMEX Copper sustains above the level of 380 then above the level of 390 Copper can test the level of 395/ 400 /405. In MCX, Copper sustains above 425 then it can test the level of 429/435/439 if it does not break the level of 415 on the downside.

WEEKLY PIVOTS: MCX Copper
R3-427.30 R2-407.70 R1-396.90
PP-388.20
S1-377.40 S2-368.60 S3-349.10

STRATEGY
For the week 400 and 420 will act as major resistance and 380 and 360 will act as major supports in COMEX Copper. For MCX Copper major resistance would be 430 and 445 and supports would be found at 409 and 394. Get more MCX Commodity Tips Gold Silver Crude Copper Natural gas Aluminium, Nickel, Lead, Zinc and latest market trend & report.

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