MCX Gold Tips
MCX Gold is facing a down trend now. Gold futures fell more than 1% in its last trading session. Our technical report suggest that MCX Gold might get 27000′s level in short term trading session. Gold Prices have closed below its strong support at 200-day SMA, indicating that the trend has turned Bearish and can test old support at 30350-30400, a close below this will confirm the bearish trend and prices can dips towards 29150 & 27850 levels. We suggest a sell for short term trading session.
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MCX Silver Tips:
MCX Silver June contract is trading on a flat trend from last 2-3 trading session. Even the MCX Silver mini is also come in a consolidation trend. Silver might get its lower trend in coming trading session. We suggest a fall in silver to 56000 level. having a resistance at 58500 level. Sell is suggested on higher levels.
Crude Oil Updates For Today:
Crude oil prices were down as higher unemployment change raised demand concerns from US after GDP data also disappointed investors. Crude futures declined on profit-taking after US weekly jobless claims rose more than anticipated, but prices still logged in their best annual start in seven years. Domestic crude oil futures were moving in a narrow range tracking a similar movement in the overseas market, where mixed global cues restricted a sharp movement either ways. For Today Crude Oil Updates are to sell on higher levels.