Monday, February 14, 2011

Mcx Commodity Tips

Natural Gas(MCX-Feb'11): Natural Gas is in oversold zone and may take support near 175 . From this level it may bounce back till 192. Above 202 it will attract buyers who will lead this counter to 214. 

Continues show high level of volatility and on weekly basis closed with negative zone. The down was occurred due to high stock level. It looks that Natural Gas prices have been significantly underperforming oil prices in the last few weeks.

We were bullish this counter from the level of 190 and it was tested 210, then reversal were saw in this counter... Now consider resistance 184 and support 179.. remain below target 175-172......... 

This counter shortly down trend in this counter and 185.00 level below down trend in this counter and low side touch at 172.50 level 167.0 level in coming trading days confirm down trend so sell at only rise...........and day trading and earn daily profit = profit choice pack .

Copper (MCX-Feb'11): We mentioned since last 4 days: Still more upside rooms are available for this metal.
Since copper does not close below its psychological figure of 455 so we can expect an up move anytime for its next target of 471. Below 448 it may fall till 443 and then 437. 

Silver (MCX-Mar'11): Along with Gold, Silver also facing resistance at $30 USD. Friday, it managed to close below $30 USD which indicates a bearish signal in near term. Silver first support is at 44500 below which it may fall till 41000. To move upside, it has to cross and closed above 46000.

1 comment:

  1. West Texas Intermediate traded near a two-week low as a manufacturing gauge signaled a fourth month of contraction in China, the world’s second-biggest oil user. Brent was steady in London.