Wednesday, May 8, 2013

MCX gold-silver trend for today and MCX crude oil movement for 08/05/13

Today on fresh start domestic gold open in positive node, but movement is sluggish on future delivery. Gold for June is open at 26745 against its previous close at 26722, whereas on intraday it touch a high of 26777 with a low of 26738. On intraday trade gold is expecting to trade with a resistance of 26991, 27150 and a support level of   26500, 264100.

For intraday trader
Buy gold (June) above 26750 tgt  26800, 26850, 26900………stoploss 26600

White metal on MCX for July delivery focuses to again gain a past movement on domestic market, today MCX silver open bit positive at 44882 it last close is Rs 44861. Today on early trade silver price touches a high of 44985 and low of 44865.  For today trade silver price are expecting for move on but movement is bearish for medium long term. On today trading silver are expecting to trade sluggish with positive node.

Buy silver (july) above 44900 tgt 45000, 45100, 45250 ……….stoploss 44550

Today crude oil on intraday market is showing a low movement from its opening price. Crude for May delivery open at 5177 and seems bearish for day trading.

Sell crude oil (may) below 5170 tgt 5160, 5150…. Stoploss 5190

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