Crude Oil Trend and Commodity Updates Today

Strengthening of rupee against dollar has a strong effect on commodity prices. In domestic markets, crude oil, gold, silver are trading with weakness. MCX crude oil at Rs 5138 with a decline of more than 2.5 per cent. While the NYMAX crude is seems to regain its upside trend. We can expect a bounce back in Crude prices after 5100 level but below 5080 level, more downside is expected.

MCX Commodity Updates for Today: Copper Up, Crude Down

Crude oil is still suffering decline mode due to profit booking and fell almost 0.75% to trade at 5279 level and prices can further go down to 5230-5200 level. NYMAX crude has also slipped below $102 level. A lacklustre trading has been seen in precious metals. Prices are likely to remain consolidated today.

Copper has shown good shine and now trading around 405 level. Copper can touch 409 level if it manages to stay above 405.50 level. 

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MCX Commodity Market News and Trend Today

The weaker dollar index led the commodity market to end with mixed sentiments.

Gold traders remained skeptical and this yellow metal closed with slight decline. MCX Silver gained over 1.5%.

In Base metals Copper (Feb Futures) managed to close above Rs. 400. Traders can buy copper mcx above 404.50 and target 409.50 level for today.

Crude oil is also looking bullish today.

MCX Silver and Gold Trend Today and Trading Tips

The day started with a slight fall in Gold while Silver has climbed up sharply. MCX Gold (Feb Futures) is trading near 27500 while silver with a gain of nearly 1.4%, is trading around 52500 level. Comex gold is trading higher so we can expect prices in MCX to raise during evening trades. So traders can buy gold above 27530 for targets of 27600-27700-750. Silver may take a rally towards 53200-53500 above 52750.

MCX Silver Updates and Commodity Market Trend for Today

After the initial fall in silver prices have stabilized.However International Silver is in up-trend but there is pressure on the domestic market After touching a record level of Rs. 75,000 last year Silver has been declined 30-35 per cent.

The silver on MCX is trading around Rs. 51700 with mild weakness. With the decline of 0.35 percent on MCX gold is trading at Rs. 27650. Crude oil has Slipped 0.5 per cent and it is trading around Rs. 5330. Copper has slipped below 400 level and and it is likely to remain under selling pressure for the day.

Commodity Gold and Silver Trend for Coming Week

COMEX Gold is in a technically consolidating on charts for short term. During last week COMEX Gold was trading on higher side and was able to made a close above 1600$ an ounce. In the coming week 1500$ will act as a major support in COMEX Gold and 1740$ will act as a major resistance.

For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1620 $ an ounce, then above 1640 $ it can test the level of 1660$/1680$/1705$ $ an ounce. And in MCX Gold above 28000 it can test the level of 28150/28300. Trade by keeping the strict stop losses.

COMEX Silver is technically in upward phase. Last week COMEX Silver was neither sustained at

higher level nor at lower level. For the upcoming week 2600 $ and 2400$ are the crucial supports

and 3200$ and 3400$ are crucial resistance in COMEX Silver. In MCX Silver 56000 and 58000 will act as major resistance and 48000 and 45000 will act as major supports.

Technically COMEX Silver is consolidating on charts. For the next week traders can use buy on lower level strategy if Silver sustains above the level of 2940$ an ounce, then above 2975$ COMEX Silver can test the level of 3025/3080/3140$ an ounce. And in MCX Silver sustains above 54000 then it can test the level of 54500/55200/56000, Trade by keeping the proper stop losses.

Crude Updates and MCX Gold Silver Trend Today

Political crisis in Iran and inventory reduction in US has supported the Crude oil prices in the international market. However strengthening of rupee against dollar has brought domestic crude prices under pressure. Currently on NYMAX crude oil has risen above $102. Despite the slight decline on MCX crude oil remains above Rs 5,400.

A decline has been seen in precious metals in the domestic commodity market. However COMEX gold has risen above $1615. In the evening trade we can expect some bullish run in bullion metals.

MCX Commodity Updates for Today: Copper and Silver declined

After a positive trading session for a while, Gold prices witnessed corrective selling and subdued the positive trend. Silver On MCX is trading lower with a loss of nearly 1%. Below 52500, a short selling is suggested in Silver MCX. Copper has also declined and trading around its support level of 409. a trade below this level may invite more downside in copper commodity. As far as prices prevails the 409.50 level, copper may regain the bullish momentum again.