Thursday, May 16, 2013

16-05-13 Commodity face- MCX copper|nickel trend and Live free commodity tips for today

Commodity market continue its worst show on Thursday also, market open with a mixed dull reaction. Bullion market again fell to open in green side; this is a very disappointing situation in front of bullion trader. Global market also in trade in downside, all metal are on red side on looking very dull to recover its position. At Singapore gold almost dropped to 1 month low at $ 1374.99 an ounce, gold is very near to fall against its 3 year low.
Similar situation also seen in US that drops by more than 1.50% at $ 1377.20. In Indian market at Multi commodity exchange on Thursday gold prices are open at 26222 against its previous close is Rs 26310. On intraday trade for June delivery it touched a low level of 25898 and more depreciation are expecting in evening trade. Today Silver for July delivery falls by more than -900 point on intraday trade at MCX. It opens at 43184 and it show some positive movement in the first hour on trade and then falling after touching an intraday high of 43259 with a low  of  42281.

Sell gold June below 25970 tgt 25930, 25890, 25850……sl 26100

Sell silver July below 42450 tgt 42400, 42350, 42200……..42700

Intraday call

Sell crude oil May below 5130 tgt 5120, 5110, 5100……sl 5160
Sell copper June below 395 tgt 393, 390…………sl  400
Buy nickel May  above 815 tgt 817 , 819, 822…………sl 808

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