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Rohan
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| 05 October 2011, 20:52:29 |
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MCX Gold Dec is trading at `26160, it rose by `150 for the day. Silver spot market is trading at $29.74, it is down by 43 cents. MCX Gold December prices are expected to see further declines to test 25500 levels. MCX Silver Dec contract is trading at `50229, it is trading flat for the day, prices are showing weakness. It is near crucial support of 49700-49800 levels. A break below this support will trigger breakdown from a descending triangle pattern for targets of 47000 levels. WTI Crude Oil is currently trading at $78.17 a barrel on the New York Mercantile Exchange. MCX Crude Oct is trading at `3855, it is trading up by `60 for the day, prices have bounced back from the oversold zone. It is now near the resistance of 3900 levels. We recommend sell near these levels with a stop loss placed above 4000 levels. All base metals are trading in the positive territory today. Gold Tips
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