01-03-13 commodity market news and mcx commodity tips

MCX Gold and silver

Today commodity market is looking very volatile, bullion showing a strong reaction downside. On MCX gold for April contract open at 29607 which is +37 point high to its yesterday close.  Today not a big movement is expected from yellow metal and on intraday it is expected to trade low. If we talking about MCX silver it open with a good hike and expected to trade with high movement. On early morning silver is traded in downside but some positive high movement will be seen in bullion, especially in silver in evening.  

Sell silver below 53200 tgt 53100, 53000, 52900………….sl 53500                          

Sell gold below 29550 tgt 29500, 29450, 29400…………sl 29700

MCX crude oil and cotton

Today crude oil for 19 march open at 5071 slightly down from its yesterday close. Crude oil on intraday looking bearish and expected to show more downtrend.  While on MCX cotton is rocking and jump a huge point. Today on MCX it opens by +90 point from its last close 18530. MCX Cotton touches an intraday high of 18740 and trend is looking bullish for intraday trading.

Buy cotton above 18650 tgt 18670, 18690, 18710……….sl 18590

Sell crude oil below 5035 tgt 5025, 5015, 5000……….sl 5070

Sell mentha oil below 1225 tgt 1220, 1210, 1200……..sl 1250