MCX Crude and Copper Updates Today (18 May)

NYMAX Crude is trading stringly around 92 dollars a barrel. On Thursday, crude oil in the domestic market, gained 0.28 per cent to close at Rs 5034.

Crude prices ate elevating today also and we can expect prices to reach 5100 level.

Consistent trading above 5050 can be a buying opportinity for crude traders.

Copper is also shining with nearly 1% upside on LME. MCX Copper closes at Rs 419 and currently its trading near 422 level. It may rise further up to 426-428 in today's trading session.

Silver Tips: Weekly Trend & Intraday Tips for Today

COMEX Silver is technically weak on charts for near term. Last week Silver was trading on lower side for most part of the week and finally closed below 3000$ mark. For the upcoming week 2650 $ and 2450$ are the crucial supports and 3350$ and 3550$ are crucial resistance in COMEX Silver. On MCX, Silver is likely to continue the bearish trend. Silver could face major resistance at the levels of 56500 and 58500. 52500 and 50500 will act as major support levels.

 Silver Tips for Today- Decline in International bullion metals have affected gold and silver severely in domestic market also. Although a slight decline has been seen in MCX gold, but silver has broken more.

 MCX Silver (July futures): Sell - 54350, stoploss of Rs - 54500 and the target - 52900-52650

MCX Gold Silver Trend Today and Trading Strategy

MCX Gold Trend

MCX Gold June contract opened negative today and we might see bearish trend again which we are witnessing at the current moment. Simmering selling sentiments could succeed only with concrete trades below 28420 region, Else hold the same to activate a short covering mode to test upside levels of 28580/28650 or even higher. But break below 28400 region may strew further selling pressure Towards 28340/190.

MCX Silver Tips- 

As long as prices stays below 54800 likely to drag prices lower towards 54100 initially followed by 54000 or even more later. Prices have to close above 56600 to negate our bearish sentiments and reverse the momentum

MCX Gold Silver Trend Today

Bullion Metals have seen a sharp decline in this week. MCX Gold, with the decline More than Rs. 1500, has come down to 28500 level. Currently On MCX, Gold June Contract is trading at 28478 level. Though Domestic Gold is trading above as compared to the international market where Gold prices have dipped to four months low. MCX Silver (July) has suffered more than1.30% decline and it is trading below 53400 level. A decline in dollar index may extend this bearishness in precious metals.

Commodity Trading Tips: Gold Silver Updates

A sharp decline has been seen in commodity markets. Crude oil, gold, silver and base metals have fallen  significantly. Projected demand decreases the price of crude oil in the international market and it has  declined to lower levels of 4 months. Crude oil price is projected to fall to $90/ barrel . Crude oil slipped 1.5 per cent to trade near Rs 5190 on MCX.

MCX Silver and Gold prices have  also suffered the decline phase. Silver is trading near its support zone of 56000-56900 which if breaches, we can expect further  downfall in MCX Silver.

Traders can sell Silver for Intraday trading.

MCX Crude Updates, Silver Trading Tips and Gold Trend Today

MCX Crude oil 0.25 per cent at Rs 5600 with strength is trading above the barrel. While 0.3 per cent decline in international crude oil and the price is below 106 dollars a barrel. In domestic markets, gold - silver looks up.. However, COMEX Gold - Silver are trading in weaker side. All base metals aretrading with strength in Multi commodity exchange of India. Nickel rose more than 1 per cent. Copper is trending high. Trading Tips- Buy Silver above 55470 TG- 55600-55750-55900 SL- 55380 Buy Crude above 5620 TG-555-5560 SL- 5490

Silver Tips Today: MCX Market Updates

Though Commodity Market is likely to face a range bound session today still we can expect some momentum in Gold and Silver prices. From Short term perspective, MCX Silver can be a good trade today. Accumulating silver (May) futures at current level is looking viable for short term trade. We can expect silver prices to reach up to 55500-559000-56200 level very soon. 55150 is the nearest support for this precious commodity. So keep a stop loss price accordingly.

Commodity Market Today: Gold Silver Trend and MCX Copper Tips

Despite of initial decline in international market, MCX gold and Silver commodities are likely to perform good today.

Comex Gold is declined slightly and trading near $1642 and with slight up edge, silver is trading above $30.

Copper could be a better bet for today's trade. Though on the London Metal Exchange, Copper is trading with a slight decline but MCX Copper in the domestic market may see further upside above 427.50 and reach upto 430-432.50 provoking day traders to go for a buy in this metal.

Money advice for investors -

Gold (June futures) MCX: Buy (On Dips) Rs -28800-820, TG- 28950-29050 SL-28720

Copper (April futures) MCX: Buy Rs -427.50 TG- 430-432.50 SL- 424.50