Market Update

Market Watch

Wednesday, 6 March 2013

Mcx Commodity News Today


Mcx Tips Today

  • Copper rose for a second day along with industrial metals
  • Gold snapped four days of losses on speculation
  • Silver moves up slightly on Tuesday
  • Crude oil sustain near low trading near 91$
  • Natural gas slide from recent lows


Gold snapped four days of losses on speculation that central banks from the U.S. to Europe and Japan will maintain stimulus measures to sustain the economic recovery. Silver, platinum and palladium advanced. Copper rose for a second day along with industrial metals as China, the biggest user, set its economic growth targets and amid speculation the Federal Reserve will continue stimulus measures. West Texas Intermediate oil rebounded from the lowest level in 10 weeks and Brent crude gained as a North Sea pipeline system remained shut after a platform leak.
  
Technical View: 

GOLD(APR)


Trend            • Consolidate


Strategy           • Sell on high

Resistance      • R2 - 30280

                          • R1 - 29980

support            • S1 - 29480

                          • S2 - 29150

SILVER(MAY)


Trend          • Consolidate
Strategy      • Sell on high
Resistance  • R2 -57750

                      • R1 -55870

support        • S1 - 53350

                      • S2 - 52200

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