MCX crude continued declining on Wednesday also and dipped nearly 1% hitherto. July contract of crude
is trading near Rs. 4700. However some buying sentiments could be
seen on lower levels. So traders are advised to take position on
dips. If crude seems to show recovery after 4650, traders can bet
buying near this level while consistent trading below the same would
extend the bearish trend.
Gold may probably remain range bound and
as per the technical analysis, International spot gold can drop to
$1,553 an ounce during the day.
Back in MCX, Gold has come down to
29300 level and still under selling pressure. Silver has shown some
recovery at lower levels but the trend is still inconsistent. For day trading, Buy on lower levels in
Gold & Silver commodities.
