MCX Silver Tips for The Week

COMEX Silver turned technically bullish on charts after breaking the consolidation of eight weeks.
Last week COMEX Silver was given break out above the level of $28.40 and gave closing above
major level of $30.10.


Technically COMEX Silver is consolidating on charts. For the next week traders can buy on lower level strategy. If Silver sustains above the level of $30.00 an ounce, then above $30.80 COMEX Silver can test the level of $31.20/$31.70/$32.20 an ounce.

MCX, Silver needs to sustains above 56100 to maintain the bullish trend. Above 57600 it can test the level of 58100/58600/59200, Trade by keeping the proper stop losses.

MCX Gold Silver Tips for Today

MCX Gold and Silver commodities started off the day with significant gain.

Despite the rupee getting strong against dollar, mcx gold futures has made a new record. October futures on MCX gold has reached a new record of 30699 rupees.

Silver, with a gain of nearly 1000 rupees (1.75%) trading around 56300 level while Gold is up nearly 1% and trading above 30600 level.

This bullish trend in bullion metals is likely to remain for the day and we can see some more upside levels in these metals.

Gold Silver Tips, MCX Crude Trend Today

Despite the decline in the international market, gold – silver metals with crude have been string today. In-fact prolonged trading at lower levels and continues ups and downs in the prices is seems to be over now and we can see some major movement in the market.
MCX Gold is expected to trade higher and we can see Gold to trade above 30000 level today. Silver can be an intraday pick above 53350 level and one can go for the targets of 53600-53750 level.

MCX Crude oil is also trading up 0.30% and prices are expected to trade above 5100 level. Day traders can initial long positions above the same for the targets of 5150-5170 level.

Commodity Tips: Gold Silver Trend and Crude Updates for Today

Gold Silver Trend

Weak trading in gold and silver is being seen today. Wth gold at Rs 29660 up by only 0.18 and at a slight fall to trade at Rs 53158, precious metals are trading sluggish in MCX. Declining trend in the international market is also being seen in gold and silver which has checked the momentum in domestic market also.

MCX Gold Silver Tips-

Buy Gold around 29750 levels with a stop loss placed below 29200 levels for targets of 30000-30200  levels.

Buy Silver on dips around 53000 level, target- 53200-53500 SL- 52750.

MCX Crude Oil News

Crude oil trend in the domestic market is weak. It has come down below 5000 and trading near 4980 level. However The U.S. Fed has assured that if weakness in the economy is seen , it will take appropriate steps to recover the same. This statement of federal reserve may support the falling prices. Technically Buying is recommended only above 5000 level.

MCX Crude and Copper Trend for Today

Yesterday Crude oil prices closed lower ahead of  U.S. Federal Reserve's statement today. Crude settled nearly 2% lower on NYMEX. Today MCX crude made an negative opening and now prices are trading near the support level of 4900 level. Breaching the same may extend the bearishness in the market.

Base metals are down today.MCX copper is heading towards its immediate support level of 40.50 below which it may slip to 418. Major downside is expected below 416. A trade above 424 may bring back the bullish momentum,