MCX Crude oil is trending continuously on lower side in the market. The crude oil is showing a sluggish trend in the market. At present the crude oil is trading at the Rs 4771 in the home market.A up trend was observed on Wednesday when the stock of crude oil in United State reduced.But the worst economic situation in Europe put the selling pressure on crude oil. By the way crude oil in International market is trading with moderate losses of approximately half percent.
MCX Gold and silver are also witnessing the selling pressure in both the market domestic as well overseas.The domestic market declined slightly lower than the international market.On MCX, Gold is trading at Rs 29 257, with slight declines, while silver is 0.30 per cent fall to Rs 52 600.
All metals except nickel in base metals is trading vulnerable. MCX Nickel with 0.30 per cent at Rs 904.
MCX Trading Tips & commodity-tips for Next Session
Silver (September futures) MCX: Sell @ Rs -52,700, Stoploss – 53,000 Target – 52,200
Copper (August futures) MCX: Sell @ Rs – 423, Stop Loss – 427 Target – 417.5