MCX Tips For Today:
- MCX Gold February Contract is looking positive for intraday. Market may find resistance near 30340 & 30400; intraday support can be seen near 30100 & 30040. Day traders are advised to Buy intraday on lower price.
- MCX Silver suggest that prices have reversed after taking support of 57500 levels. RSI is in a buy mode. We expect prices to go up to levels of 58700. Technical report suggest a buy in Silver on lower level to get the target of 58700.
- MCX Crude Oil current trend suggest a crucial resistance at 5250 level. Stochastic is losing its strength. We expect prices to correct up to levels of 5150. We suggest to sell Crude oil on Higher level.
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Commodity Calls Today:
- MCX Natural Gas Call: Buy around 177 levels with a stop loss placed below 175 levels for targets of 180 levels.
- MCX Copper Call: Buy around 438 levels with a stop loss placed below 434 levels for targets of 443 levels.
- Commodity Call in Nickel: Buy around 952 levels with a stop loss placed below 940 levels for targets of 970 levels
Gold Silver Tips
MCX Gold is trading flat mode today on domestic market because gains tracking COMEX futures were offset by the rupee’s rise against the dollar. International bullion Updates suggest that Gold had been rose on COMEX on short covering following the recent fall in prices. Also, investors squared off positions ahead of the US Federal Reserve’s two-day meeting that starts today. Silver is trading on a bull trend today up by 169 points trading above 58000 level. Buy is suggested on current levels.