Market Update

Market Watch

Friday, 22 February 2013

Mcx Commodity Tips for Today





  •  Gold futures for April delivery rose less than 0.1 percent
  • Natural gas futures dropped in New York
  • Silver futures for March delivery climbed 0.3 percent
  • Copper, tin and nickel fell to the lowest level
  • Lead, zinc and aluminum also retreated in London

Gold futures for April delivery rose less than 0.1 percent to $1,578.60 an ounce on the Comex in New York. Silver futures for March delivery climbed 0.3 percent to $28.699 an ounce on the Comex. Natural gas futures dropped in New York for the first time in three days after weather forecasts for the central U.S. turned milder heading into March. Copper, tin and nickel fell to the lowest level this year on signs of a deepening slump in Europe and concern that the Fed will slow the pace of economic stimulus.

Technical View for Gold and Silver:
GOLD:

Trend           Consolidate
Strategy     Sell on high

Resistance R2 - 30180
                       R1 – 29850

Support    S1 - 29280
                     •S2 – 29050
SILVER:

Trend              • Bearish
Strategy         • Sell on high

Resistance   • R2 - 55750
                         • R1 - 54570

Support         • S1 - 52850
                         • S2 – 51300

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