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, 

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MCX NCDEX COMMODITY TIPS,FREE TRIAL TIPS

MCX COPPER UPDATES :- Copper in China declined after consumer prices in the world’s largest base-metals user increased more than forecast last month, boosting speculation that the government may not add further stimulus. The metal for delivery in July fell as much as 0.9 percent to 59,900 yuan ($9,497) a metric ton on the Shanghai Futures Exchange, and traded at 60,190 yuan at 10:37 a.m. in Shanghai. May delivery-copper was little changed at $3.7935 a pound on the Comex. The London Metal Exchange is closed for a holiday today. On the Comex, net-long positions, or wagers on rising prices, held by funds were 18,642 futures and options contracts as of April 3, compared with 14,883 a week earlier, according to the U.S. Commodity Futures Trading Commission.

MCX CRUDE OIL TREND :- Oil fell for the third time in four days on concern fuel demand may falter after U.S. employers added fewer jobs than forecast, signaling economic growth may slow in the world’s biggest consumer of crude. Futures slid as much as 1.2 percent after climbing 1.8 percent on April 5. The U.S. created 120,000 jobs in March, the smallest increase in five months, and a Labor Department report showed April 6. The median estimate in a Bloomberg survey of economists was for an increase of 205,000.

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FREE MCX COMMODITY TIPS

On the MCX, Gold June contract traded slightly higher by 0.1 % and touched an intra-day high of Rs. 28,044/10 gms on Tuesday. We expect gold and silver to trade with a negative bias today taking cues from a stronger dollar index and weak sentiments in the global markets. Silver will also take cues from downside in base metals too. However, depreciation in the Indian Rupee will cushion sharp decline on the domestic bourses.

From the intra-day perspective, we expect crude oil prices to trade with a negative bias today on account of expected rise in US crude oil inventories. Additionally, a stronger dollar index will add further downside pressure on oil prices.

MCX Natural Gas Tips :- Buy around 112 levels with a stop loss placed below 109 levels for targets of 118 levels.

MCX Copper Trading Tips :- Sell around 438 levels with a stop loss placed above 441 levels for targets of 434 levels.

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CRUDE UPDATES : MCX Crude Oil News and Tips

CRUDE OIL TREND :-

Crude oil prices touched an intra-day high of $107.64/bbl and closed at $107.3/bbl  on Wednesday. On the MCX,  Crude Oil April contract  increased by 0.9 percent and closed at Rs.5443/bbl after touching an intra-day high of Rs.5467/bbl yesterday. Crude  prices  are expected to trade within 5460 to 5370. Any  close above 5460 should witness buy interest in the counter.

Crude Oil Support and Resistance :-

Crude Oil (April) : S3 - 5330, S2- 5375, S1- 5420,R1- 5460, R2- 5485, R3- 5520

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MCX Gold Trend, Tips, Trading Startegy

MCX Gold Trend :- Gold prices  are  witnessed  a  bounce back  from the support at 27700  -750,as 

long as prices are holding above 27700 on closing basis prices are expected to trade positive.

Gold Support and Resistance (Apr) :- S3-27530, S2- 27620, S1- 27700, R1- 27880, R2- 28000, R3- 28115

Crude Oil Trend :- Crude prices are expected to trade within 5340 to 5450.we recommend remain long until prices are holding 5340 on closing basis.oscillators indicating a sideways to down move.

Crude Oil Support and Resistance (Apr) :- S3- 5300, S2- 5340, S1- 5375, R1- 5420, R2- 5457, R3- 5490

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MCX Trading Tips, Crude Updates Tips On Mobile

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MCX crude oil seems sluggish. Modest growth of 0.1 per cent with crude oil is trading at Rs 5350. As crude oil rises and foreign money flows into India, equities rise sharply in absolute and relative terms. The currency and interest rates gain too. However, the longer and sharper the crude oil rises, India first under performs and then falls.

Crude Oil Support and Resistance

Support for the Crude oil is 5306-5252-5126-5103-5090-5089.

Immediate resistance for Crudeoil is 5432

Crude Tips today 6 March

MCX Crude oil (March futures): Sell - 4380-4390, stoploss of Rs - 4550 and the target - 4300

Get daily commodity updates and levels on Mobile, NCDEX updates. For MCX and NCDEX levels of 6 and 7 march 2012 FILL THE FORM

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