Today, the MCX Commodity market seems incredible. On the season of Wedding, the precious metal is in demand, but today it seems bearish for both Gold and Silver.
Gold decrease by 17 points at 30740.00 and Silver by 37 points at 59395.00. If we talk about base metal, yesterday MCX Copper was closed at 436.30 and today at 11:30 its price is increases by 1.75 points or 0.40% at 438.05.
Crude oil is also in demand it gains 2 points at 5159.00. Right now crude oil is in HOLD LONG position. It’s trading in highly oversold level. Other MCX Base metals Aluminium decline by 0.10 points. Whereas, Nickel, lead and zinc increased by about 1-2%.
Cotton price also decreased by 40 points at 16250.00. NCDEX Soyabean trend is strong and it supported good volume. For short term it shows buy signal. It works over a high oversold level.
COMMODITY CALLS :
Sell Gold at 30732.00 with Stop Loss 30882.00
Sell Silver at 59335.00 with Stop Loss 59635.00
Buy Soyabean at 3343.0 with Stop Loss 3236.3