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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