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Tuesday, July 2, 2013

2 July copper trend || gold - copper support and resistance for today || intraday MCX tips for today trading level

MCX metals are on good position, today bullion moves upside with an increment in dollar. If we talk about base metal a low increment are seen on intraday trading at MCX for future delivery. This time is good to invest for medium long term, in base metal especially in copper and nickel and lead. Currently copper are near 3 year low on global market ,in china data showing a low manufacturing in June for metal demand.  But if we talk about domestic Multi commodity exchange a good rally has been seen yesterday that end at 417.15 and on Tuesday it open at 416.50. Meanwhile at LME copper traded near  $6887.25 per tones. On domestic market nickel prices are flows high on due to rise on demand from alloy industry. On intraday trading nickel look in sharp side and expected to trade near 837-840 in today trade with an increment in this yesterday position.

Gold support and resistance
S1: 25800, S2: 25810
R1: 26285, R2: 26364

Copper support and resistance
S1: 411, S2: 409
R1: 420, R2: 424.50

BUY GOLD AUGUST ABOVE 26100 TGT 26150, 26200, 26350  STOPLOSS  25800

BUY CRUDE OIL JULY ABOVE 5830 TGT 5850, 5860, 5870 STOPLOSS 5790

BUY SILVER JULY ABOVE 40250 TGT 40300, 40400, 40500 STOPLOSS 40000

SELL MENTHA OIL JULY BELOW 980 TGT 977, 970, 965   STOPLOSS 995

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