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Copper :- There is now strong gains in base metals. Copper with the most rapid turnover is about one per cent. also fast in the other metals. LME base metals on the effect of consolidation is being witnessed at home business. With nearly 1.5 per cent on LME copper have risen above $ 7,300. Copper during the week have gone up about 5 percent.
MCX Copper (Nov) – MCX Copper’s Nov contract which is going to expire on 30 Nov 2011, is expected to trade between the broad ranges of 340 to 360 Expected resistance and support level for today trade are as follows.
RESISTANCE: R1- 349.5 R2- 354.50
SUPPORT: S1- 337.50 S2- 333
Crude Oil :- Bullish trend in crude oil is today. International market, crude oil is trading above $ 82. But also on the MCX crude oil is trading at 1 per cent.
MCX Crude Oil (Jul) – Expected resistance and support levels for the crude July contract with expiry date of 19 oct 2011 are
RESISTANCE: R1- 4070 R2 – 4095
SUPPORTS: S1- 4010 S2 - 3990
MCX Crude Oil October Sell - 4080, stoploss - 4120, Targets - 4040 - 4020
Source :- MCX Commodity Tips |
