Base Metal Updates, Copper Trend, Intraday silver Tips 7 March 2012

Base metals today is trading positive by 0.4 to 1.4 percent post yesterday’s fall. we recommend initiating short position at higher levels as weak Asian and European equities coupled with contracting German factory orders. However, slight pullback in metal prices may be witnessed during US data releases.

Copper Support and Resistance :- Support for the Copper is 419-417-411-406.

Resistance for the Copper is 427

MCX Silver Trend for Today :-

MCX silver May contract is trading at Rs 57984 after opening at Rs 57989, up 0.42%. MCX silver May support Rs 56436/Rs 57032 , resistance Rs 58400/Rs 59350. 

Silver Trading tips :- BUY MCX Silver May above 57,800, SL - 57450, TGT - 58350

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MCX Commodity Trading Tips

MCX Commodity trading tips today includes MCX gold trend, silver MCX trend, gold support and resistance, Silver trading tips. MCX Gold trend for today is considered to be in HOLD SHORT position Gold is in sideways so for short term better buy above 28938.0 with stop at 27730.0 The oscillator is showing SELL signal.

MCX Gold support and Resistance :- Support for the Gold is 27863. Resistance for the Gold is 28293-28375-28471-28589

MCX Silver Trend :-  Silver is moving sideways so short term investor better to buy only above 61488.0 or hold with stop at 57120.0 The oscillator is showing SELL signal.

MCX Silver support and resistance :- Support for the Silver is 57407-57029-55501-55111-54855-.Resistance for the Silver is 58602. 

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