Thursday, November 29, 2012

Bearish gold silver commodity news

Today commodity is showing a red dark sign In the market, on the MCX there is a deep Sharp fall in all the commodity. In the domestic market this is the first time in this week when there is deep fall on the MCX. Today bullion break the back bone of the MCX by downing more then 800+ point combined, silver goes -600 point to its previous close while gold goes -250 point. Today the support for gold is31500 and resistance is 32471; similarly silver has a support level of 62250 and a resistance of 63580 for the December contract. This is the same situation on the crude oil but there is not too much fallen. Meanwhile in the global market base metal is also closed at lower side this is due to strengthen in the dollar price yesterday session.
Today Mentha oil has a good support level and is the top commodity that’s trading with a green sign. Mentha oil is going 22.90 point high at 1.54 pm on the MCX 30 November contract. Today there is a very high risk to trade in the market. The position is very unstable in the base metal and the market is looking to go more with red sign today. 
Today’s MCX calls:-

Sell silver tgt  62300….62350……………

Buy menthaoil tgt 1375….1380……… 1350..

Buy gold tgt 31650….31700..



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