CRUDE UPDATES : COMMODITY MARKET TREND

Commodity market today i.e. on 24th may 2012 opened negative after a fall of 0.56% on Wednesday. It is currently trading higher by 3.03 points, or 0.08%, at 3,881.63 at 10.01 a.m. after opening at 3,876.11. 

Crude Updates says that for the first time since October, crude oil prices fell below the $90/bbl mark, indicating further downside risks as the supply-side scenario eases and as inventories continue to rise. Global economic risks have also widened and sentiments would not support the commodity above $90/bbl as markets prepare for further negativity. 

CRUDE TREND TODAY :- With fundamentals becoming weak amid a negative macroeconomic scenario, we expect the downtrend in crude oil prices to continue today. Additionally, latest data on the Chinese manufacturing front is also bearish and will add to further downside

CRUDE OIL SUPPORT AND RESISTANCE :- 

 MCX Crude June 2012 :- Support :- 5050/5014, Resistance :- 5138/519

GET GOLD SILVER TREND ON YOUR MOBILE, 

FILL THE FORM ------------------>>>>>>>>>>>>>

Read More

MCX COMMODITY TIPS ~ Gold Copper Crude Trend 21 May 2012

MCX GOLD TREND :- 

Gold is expected to trade on a weaker note today as concerns with respect to Greece ease, thus having an impact on safe-haven demand which had re-emerged last week. Silver on the other hand is expected to witness upside, on the back of upbeat global market sentiments. 

Gold Support and Resistance :- S3- 1565, S2- 1575, S1- 1585, R1- 1600, S2- 1610, S3- 1620 MCX 

CRUDE OIL TREND :- 

Crude oil prices are expected to trade on a positive note, taking cues from positive global market sentiments. With global leaders confirming the presence of Greece in the Euro Zone, market sentiments are expected to be upbeat.

Crude Oil Support and Resistance :- Support :- 4980/4950 Resistance :- 5030/5060 

MCX COPPER TREND :- 

Copper the leader of the base metals declined by 4.3 percent on the LME in last week on the back of re-emergence of European debt crisis, rise in risk aversion in global markets along with stronger dollar index. However further downside in prices was restricted on account of decline in LME and Shanghai Inventories by 0.1 % and 7.3 % respectively. 

MCX Copper Support and Resistance :- Support :- 418/416, Resistance :- 422/425

Read More